Tag California budget crisis

Wow. He absolutely did the right thing, saying the budget is not balanced, uses “legally questionable maneuvers“, and adds billions in new debt. Tip: Calitics

When economies sour and budgets fail, people look for answers. And as California’s financial misery continues, some are looking to identify the guilty party, but perhaps the system itself is the real culprit.

It certainly seems that way sometimes, doesn’t it? The California legislature shambles around, bumping into things, with no apparent sense of direction. Issues that managed to get resolved quickly in other states (like Utah revising their public pension plans in…

Bond rating agency Standard & Poor’s praised Gov. Brown’s plans to pay down debt by 2015 but still warned that California remains at a “crossroad.” California currently has the lowest S&P credit rating of any state. Such ratings directly impact…

The California Constitution mandates that a budget be passed by June 15 of each year. The legislature finally did pass the budget on March 17, 2011, a mere nine months late, but still has not acted on how to fund…