Budget and FinanceThink Long Comes Up ShortThursday, February 2nd, 2012 The following first appeared in City Journal California. FEB. 2, 2012 By STEVEN GREENHUT California’s ongoing budgetary and political dysfunction has spawned a host of reformers backed by wealthy donors. The latest scheme, released with much fanfare in late November, is a report produced ... Chiang: State Broke on March 8Tuesday, January 31st, 2012 JAN. 31, 2012 By CHRISS STREET State Controller John Chiang shocked California legislators today when he sent a letter announcing that the state will run out of cash on March 8. That is, unless Legislature allows state Treasurer Bill Lockyer to delay $2.4 billion in payments to universities, c... Redevelopment Agencies Facing DefaultMonday, January 23rd, 2012 JAN. 23, 2012 By CHRISS STREET Public officials are scrambling to deal with the California Supreme Court’s decision in California Redevelopment Agency vs. Matosantos. It upheld the elimination of the RDAs last year by Gov. Jerry Brown and the California Legislature. The Legislation cancel... CA Running Massive Cash DeficitThursday, January 12th, 2012JAN. 12, 2012 By CHRISS STREET The California state government’s general fund is running a staggering cash deficit of $21 billion on an $88.5 billion budget. The number comes from Controller John Chaing just-released financial statement for December 2011. The bad news came in the face of strong ... LAO: Brown Numbers Don’t ComputeThursday, January 12th, 2012 JAN. 12, 2011 By JOHN SEILER Gov. Jerry Brown's budget proposal contains more smoke than a forest fire. More mirrors than a funhouse. And more empty promises than a presidential candidate's platform. So much for his solemn pledge, in his Inaugural Address a year ago, "No more smoke and mirr... ‘Inflation Tax’ Already Striking CAMonday, January 9th, 2012 JAN. 9, 2011 By JOHN SEILER Californians won't have to wait for tax increases, such as the several that could be put before voters in the November election. One proposal is Gov. Jerry Brown's $7 billion tax increase. Tax increases already are hitting the state because of inflation, which i... Gov. Brown’s Budget ‘Holds Kids Hostage’Friday, January 6th, 2012 JAN. 6, 2011 By KATY GRIMES In Gov. Jerry Brown’s world, welfare recipients are cashing in, while school children continue to get short-changed. Brown released his 2012-13 budget plan Thursday, warning that spending on K-12 schools, state universities and courts will be reduced if Cal... Supreme Court Rebukes Crony CapitalismFriday, January 6th, 2012The following first appeared in City Journal California. JAN. 6, 2012 By STEVEN GREENHUT On December 29, 2011, the California Supreme Court handed down what the state’s urban redevelopment agencies (RDAs) and their supporters called a “worst of all worlds” ruling—first upholding a... |