State Treasurer Bill Lockyer testifying before the Assembly Budget Committee, of which three of its 27 members were in attendance, at a December 14 interim hearing on California’s level of debt:
“Forecasters were created to make astrologers look good.”
In response to Assemblyman Jim Silva, a Huntington Beach Republican, saying his top spending priorities are public safety, education, health, transportation and water:
“That’s about 98 percent of the budget.”
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The Treasurer’s comment is similar to Fed Chairman and economist Bernanke’s self-deprecatory comment prior to his long answer when asked about when the market would turn around: “Economists are not quite as accurate as weather forecasters.” Can you report more fully on what Treasurer Lockyer said to those 3 members, and was there any dialogue?
Thanks.
As always, Locker wit, to wit.