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Tag Archives: Legislative Analyst

In Crisis Comes... Confusion

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As California’s state budget fracas begins to heat up, it’s getting awfully hard to sort through the numbers, data, and pitches that are being presented to prove particular points. So let’s take a moment to get our bearings. (Note: especially … Continue reading »

$21 Billion Deficit Could Grow to $24 Billion

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[UPDATE: It appears that Schwarzenegger is now abandoning his call for about $5.5 billion in borrowing for the year starting July 1, a borrowing plan that the LAO (see below) has criticized. That means, according to his advisers, more spending … 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.”

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 »

The Cash Advance of Prop 1C

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Perhaps no operation of state government has been sized up for reform more in recent years than the California Lottery. Lease it… sell it… remove the existing restrictions… all have been discussed in hopes of getting higher profits out of … Continue reading »

Prop 1B: The One Time Fix

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Four of the six measures on next month’s statewide ballot seek to pull money, from various sources, to help plug the state’s immediate and near-term budget hole. One of them, if voters approve, would widen that hole by more than … Continue reading »

Prop 1A's Old Ball & Chain... Taxes

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A few weeks from now, once the voters have spoken, pundits will either be calling it the height of political genius… or a political blunder for the record books. “It” is the multi-billion dollar tax increase that will only happen … Continue reading »

Bonds Selling Fast. But Why?

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Some good financial news for California coming out of the office of Treasurer Bill Lockyer this morning, as more than half of the planned $4 billion in state general obligation bonds were sold before midday on the West Coast. A … Continue reading »

Shift Juvenile, Drug Offenders to Counties?

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There are some in government circles who think that times of great crisis actually provide the most opportunity for change. That’s a familiar narrative in the nation’s capital these days, and one that the Legislature’s corps of budget analysts is … Continue reading »