Monthly Archives: May 2009

Podcast: Storm Front

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Batten down those hatches, the wind’s picking up and it’s looking ominous. Yes, special election day is almost upon us. On this week’s Capital Notes Podcast, we talk about new deficit projections, what those numbers might mean in terms of … Continue reading »

And Now, We Wait

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The revised budget, two of them actually, from Governor Schwarzenegger suggests a grim pathway out of another multi-billion dollar budget hole. The question now: will the hole be almost another 50% deeper come Wednesday, after the voters weigh in? For … Continue reading »

Treasurer to Feds: Be There, Just In Case

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An unsurprising, but still sobering, bit of late afternoon news on the state of California’s finances: Treasurer Bill Lockyer has formally asked the feds to back up the state’s massive borrowing needs over the next few months — essentially a … Continue reading »

Prop 1F: The May 19 Guillotine

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You’re angry. You want to punish the politicians. And so… if you’re like your fellow Californian who’s been polled in recent weeks… you’re going to cast a vote for Proposition 1F with glee. Off with their heads, er, pay raises! … Continue reading »

If Props Fail, $21.3 Billion Deficit

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Late word this evening that will get everyone’s attention: Governor Arnold Schwarzenegger has informed legislative leaders that if three of the six budget-related ballot measures fail next Tuesday, the state faces a $21.3 billion deficit between now and next July. … Continue reading »

Prop 1A: Pork Barrel Spending?

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The labor union campaign opposing Proposition 1A has released its first TV ad, attacking the measure’s planned budget reserve as a way to “spend billions on pork barrel projects.”

The Modifying Measures, Props 1D & 1E

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It’s one of the maxims of California politics: what the voters do, often only the voters can undo. And that’s the real story of Proposition 1D and Proposition 1E, both which were placed on the ballot by the Legislature in … Continue reading »

Podcast: Crunch Time

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The special election campaign pivots towards a controversial theme as crunch time nears… state government’s cash crunch appears to be getting worse… and Assembly Republicans crunch up their veteran leader and put a new person in his stead. It’s another … Continue reading »

A $23 Billion Cash Shortage?

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Add this morning’s new report from the Legislative Analyst’s Office to the growing chorus of warning signs about the fiscal year that lies ahead for California. The LAO believes that the weakened economy, the shaky budget, and the defeat of … Continue reading »

Budget Triage vs. Major Surgery

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It wasn’t specifics that reporters learned today in a wide-ranging chat with the leader of the state Senate, but rather a map for the budget debate that lies ahead — regardless of what happens in the May 19 special election. … Continue reading »