Tag California budget

California’s budget fiasco

California budget negotiations have an eternal air of unreality about them. Negotiators make lofty assumptions about income and revenue, only to be proven wrong later. Complicated proposals requiring the approval of eternally squabbling factions are floated as though they have…

California faces gloomy new year

The non-partisan Institute for Truth in Accounting has released its latest report on California (PDF), and it makes grim reading indeed. Not only is California so deep in debt that default or bankruptcy might seem a blessed relief, it appears…

Schwarzenegger. The grinch who stole the paychecks

Calif. Gov. Schwarzenegger ordered 200,000 state employees be paid minimum wage until the budget passes. The State Controller is refusing to implement the order, saying the computer system can’t handle such a change and the question of whether the governor…