Source: California Budget & Policy Center
News
Jan. 10, 2017
We estimate that California state and local governments owe $1.3 trillion as of June 30, 2015. Our analysis is based on a review of federal, state and local financial disclosures. The total includes bonds, loans and other debt instruments as well as unfunded pension and other post-employment benefits promised to public sector employees. Our estimate of California government debt represents about 52% of California’s Gross State Product of $2.48 trillion. When added to the state’s share of the national debt, we find that California taxpayers are shouldering debt burdens on a par with residents of peripheral Eurozone states.
News
Oct. 27, 2016
As an indicator of economic hardship, the US Census Bureau's Supplemental Poverty Measure (SPM) improves on the official poverty measure by better accounting for regional differences in the cost of living as well as for the various resources (including non-cash benefits like food assistance) that families use to cover expenses.
News
Sept. 13, 2016
SPM improves on the official poverty measure by better accounting for differences in the cost of living across the US. When California’s high housing costs are factored in, a much larger share of the state’s population is living in poverty: 20.6 percent under the SPM, compared to 15.0 percent under the official measure. Accounting for housing costs boosts California’s poverty rate to the highest of any state, up from 17th highest under the official poverty measure.
News
Nov. 17, 2015
According to the most recent available information, California’s K-12 education spending lags the nation by almost any measure.
News
Nov. 12, 2015
The California job market is getting closer to recovering from the Great Recession, but workers still face a diffi cult hiring environment. After losing 1.3 million jobs between July 2007 and February 2010, California has since added more than 2 million jobs.1 Despite this progress, the labor market is not yet back to pre-recession strength.
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