During the last full fiscal year, revenues fell below the projections used to craft budgets in at least 38 states, were roughly on target in 10 states and ahead in just two.

And states didn't just barely miss their revenue projections, they blew it by huge margins.

This poses a huge problem for California's Legislature as it discusses blueberry commissions, pomegranate juice and oh yeah, the budget.

California is looking at least a $ 25 Billion deficit, and it can not be fixed by furloughs, fee hikes or IOU's alone.

Government's view of the economy could be summed up in a few short phrases: "If it moves tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it."

Some things never change.