Budget Revisions But Staying the Course

May 16, 2011 · Filed Under CA Budget, The Governor · 1 Comment 

If Governor Jerry Brown has a backup plan to extending several billion dollars in taxes, he's not showing it. Not yet, at least.

Brown's revised budget, unveiled at a very lengthy news conference (by gubernatorial standards) on Monday morning marks the end to at least the debate over projected revenues -- up $6.6 billion and thus changing both the policy and political debate from here on out.

Now, for the rest of it...
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You Go Your Way, I'll Go Mine

April 28, 2011 · Filed Under CA Government, CA Politics · 6 Comments 

Newcomers to California barely get their bags unpacked when someone, somewhere, starts griping about how the state is so big or its citizens so disagreeable that we ought to just crack it up into smaller pieces and go our own separate ways.

Which brings us to the budget fight of the spring of 2011.
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Sell Those Buildings, But At What Cost?

November 15, 2010 · Filed Under CA Budget · Comments Off 

Photo Dept. of General Services

As soon as next month, 11 office buildings owned and occupied by the state of California will drop the 'owned' part of that description, after clearing a major hurdle this morning that critics continue to say is a budget deal that's penny wise and pound foolish.
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Cash Is King

January 11, 2010 · Filed Under CA Budget · Comments Off 

July 12, 2007 seemed to be an unremarkable day here in Sacramento. It was a Thursday with a pleasant un-summer-like high temperature of 85 degrees. The budget was almost two weeks late, though that certainly wasn't surprising.

But that day now stands as a milestone for the long crisis in California's governance: it was the last time the Golden State had "real"... not borrowed... cash on hand to pay its bills. Ever since, finance officials have scrounged for money to keep the wheels turning -- a process that's expected to continue in 2010.
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On Sept. 4, Come Get Your Money

August 13, 2009 · Filed Under CA Budget · Comments Off 

Summer doesn't officially end until September 22. But the state's Summer of Debt -- at least from a cash perspective -- will end on September 4, according to Controller John Chiang.
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Surprise Us, Says Treasurer

July 16, 2009 · Filed Under CA Budget · Comments Off 

A pretty good jab at the folks in the state Capitol came in today from Treasurer Bill Lockyer, a written statement on the deficit negotiations that now seem slower, not faster.
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Don't Touch That Dial

June 24, 2009 · Filed Under CA Budget · Comments Off 

You're not really surprised that things turned out this way today, are you?

Of course, that's not to say that some parts of today's budget news weren't unexpected. And few would venture a guess as to what happens next... though indications are the Legislature will be spending the final weekend of June in session.

For a formal look at today's events, dial in to The California Report tomorrow morning. In the meantime...
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As California Goes...

June 23, 2009 · Filed Under CA Budget · Comments Off 

One of the most often quoted stats about California is that, were we a nation, we'd be the world's eighth largest economy.

But such power can also work in reverse, say economists. And now, there is speculation that whatever ugly deficit deal state lawmakers strike, its necessary slashing of public services could either slow, or stop, the economic recovery of the entire nation.
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Treasurer to Feds: Be There, Just In Case

May 13, 2009 · Filed Under CA Budget, Elections · Comments Off 

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 guarantee that the United States Treasury will step in should the state or any local governments default.
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Big(ger) GO Bond Sale

March 24, 2009 · Filed Under CA Budget · Comments Off 

Treasurer Bill Lockyer says the $4 billion general obligation bond offering became a $6.54 billion offering due to sharp demand, as blogged about yesterday.

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