Budget and FinanceNEW: Jerry Brown’s deficit teeter-totter gameWednesday, May 23rd, 2012 May 23, 2012 By Wayne Lusvardi Imagine a teeter-totter with a chubby boy on one end and a thin boy on the other. The teeter-totter can be balanced either by two chubby boys or two thin boys. It can be balanced heavy or balanced light -- either way will work. Under Proposition 58, Califo... NEW: Hollywood seeks more taxpayer subsidiesWednesday, May 23rd, 2012May 23, 2012 By Joseph Perkins The California Film Commission is holding a lottery next week for filmmakers and television producers. The lucky winners will share $100 million worth of taxpayer subsidies. It’s part of the state’s three-year-old Film and Television Tax Credit Program, th... State may consider taxing servicesTuesday, May 22nd, 2012May 22, 2012 By Dave Roberts Hold on to your wallet -- Sacramento may be hatching yet another way to reach into your pocket: a state sales tax on services. Assemblywoman Alyson Huber, D-El Dorado Hills, has authored AB 1963, which calls for a study of the revenue impacts of a service tax. H... FHA subprime defaults hit 9% in CaliforniaFriday, May 18th, 2012May 18, 2012 By Chriss Street The American taxpayer is about to be saddled with another multi-billions bailout of subprime mortgage loan losses from the stealth Federal Housing Authority lending program that has been offering ultra-low 3.5 percent down payments since 2009. Delinquency rat... Assembly hearings expose Brown budget gapsThursday, May 17th, 2012May 17, 2012 By Katy Grimes Like a woman with a shopping addiction, California politicians are going to bankrupt the Golden State. California has a $16 billion deficit, a $4.6 billion budget spending increase since January, a credit rating which will probably be lowered and a big fat $10 billi... JP Morgan fiasco means higher interest rates aheadTuesday, May 15th, 2012May 15, 2012 By Chriss Street If there was an Academy of Motion Picture Arts and Sciences award for the best acting performance by a CEO, Jamie Dimon of J.P. Morgan Bank would surely win the Oscar for his dismissal of a $2 billion off-shore derivative loss as “a complete tempest in a teapot.... Has Jerry Brown’s budget deficit become a cliche?Tuesday, May 15th, 2012May 15, 2012 By Wayne Lusvardi Has California’s legendary structural budget deficit evolved into an overworked and obsolescent cliche? This is a question to be asked of Gov. Jerry Brown announcement yesterday that the state general fund budget deficit has ballooned to $16 billion from the... New Brown budget pushes tax increasesMonday, May 14th, 2012May 14, 2012 By Brian Calle Gov. Jerry Brown and his allies, in predictable fashion, are using California’s latest $16 billion budget black hole as a tool to justify big tax hikes. Brown did so today in presenting the May Revise of his 2012-13 budget proposal. And, they argue, the consequ... Jerry Brown pulls a NixonThursday, May 10th, 2012 May 10, 2012 By Chriss Street "Only Nixon could go to China" is a political metaphor referring to the ability of a politician with an unassailable reputation among his supporters for staunchly representing and defending their values, to take actions that would draw vicious criticism and fierce... |