May 20, 2013 By Katy Grimes During his press briefing last week while discussing the state’s lack of budgeting flexibility, Gov. Jerry Brown said, "Anyone who thinks there's spare change around here, they haven’t read the budget." Brown released his May Budget Revision l...
Posts Tagged ‘pensions’No spare change under the domeMonday, May 20th, 2013Six bills would make it easier to pass tax increasesFriday, May 17th, 2013MAY 17, 2013 By Katy Grimes SACRAMENTO -- The Senate Governance and Finance Committee on Wednesday passed six constitutional amendments to make it easier for local voters to pass various tax increases on property owners. "California didn't knowingly vote for centralized power," said Sen... Gov. Brown’s May budget revision balances only by ignoring unfunded liabilitiesTuesday, May 14th, 2013May 14, 2013 By Katy Grimes SACRAMENTO -- Balancing the economic realities of the state budget with political influences surely is a challenging task. Unfortunately, in California it is a task which few administrations have managed in recent state history. Democratic Gov. Jerry Brown an... LAT’s Steve Lopez: Pension crisis real — not unions’ fault. Huh?Wednesday, April 24th, 2013 April 24, 2013 By Chris Reed The unsustainability of the public employee pension system in California has been obvious for at least six or seven years to anyone who understood two simple facts: the demographics of our aging government workforce and the irrationality of CalPERS' argument in 199... SEC charges Chicago-based investment adviser with defrauding CalPERSThursday, April 18th, 2013April 18, 2013 By Josephine Djuhana The SEC released a statement today, charging Chicago-based investment advisory firm Simran Capital Management with lying to CalPERS regarding the amount of money managed by the firm. The president and sole owner of the firm, Umesh Tandon, is alleged to have ... Has California been saved?Monday, April 8th, 2013April 8, 2013 By Steven Greenhut SACRAMENTO -- Ever since California’s voters approved the Prop. 30 sales- and income-tax increase on the November ballot, liberal commentators have been gloating about the resurgence of the Golden State after many years of predicted doom and gloom. Their evid... Pensions at heart of bankruptcyMonday, April 1st, 2013April 1, 2013 By Steven Greenhut SACRAMENTO -- Few nonlocal people typically pay much attention to the goings-on in Stockton, a hard-pressed Gold Rush-era industrial city of about 300,000 that sits in the agriculturally rich San Joaquin Valley, at the eastern edge of the California Delta. But ... Neighborhood Legislature could restore accountabilityWednesday, March 27th, 2013 March 27, 2013 By Katy Grimes Big spending on California politics has become one of the state’s largest industries. But the return on investment is lousy. California’s political system has become so heavily manipulated by labor unions and other big money interests that the system is bro... LAO: CalSTRS massively underfundedTuesday, March 26th, 2013 March 26, 2013 By Katy Grimes SACRAMENTO -- The state’s Legislative Analyst released another stinging report last week showing the California State Teachers' Retirement System suffers $73 billion of unfunded pension debt. But CalSTRS is using doubtful figures to minimize the billions in deb... How to overfill prisons: Have SEC look at CA school districtsWednesday, March 20th, 2013March 20, 2013 By Chris Reed The federal indictments this week of CalPERS' former president and his alleged briber show that the federal government does occasionally notice the outrageous behavior of our state government. But what about the Securities and Exchange Commission? It went after the... |