State Power

California Austerity: $5 Billion Spending Hike: Cavanaugh on Fox L.A., 10 p.m. tonight

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When Tim Cavanaugh stares directly at the sun, the sun looks away.

Rabbit ears alert for all L.A. residents:

Why does California keep overestimating how much it can collect in taxes? 

How did the overestimation this time around result in a cool $16 billion shortfall? (Not even the worst in recent memory!) 

Where are the devastating cuts of the austerity of bare-bones of the starving beast in a state that will increase spending by six percent — from $86.5 billion in outlays last year to $91.4 billion this year? 

Is it smart for Gov. Jerry Brown to expect a Facebook windfall when Facebook founders are literally willing to flee the United States to escape the tax hit of the company's impending IPO? 

Does anybody except USC/Dornsife pollsters think Brown will get his $8.5 billion tax hike approved in November? Does anybody on any planet believe it will actually bring in $8.5 billion in new taxes? 

What's the best way for a broken state to spend money it doesn't have: Government employee pensions, high-speed rail, boards of horse racing and chiropractory, or all of the above? 

Reason.com managing editor Tim Cavanaugh will answer these questions and more on Fox Channel 11 tonight at 10 p.m.