Feb. 7, 2017
"Education will be hit with a double whammy. The retirement fund for teachers CalSTRS, last week lowered the rate it expects to receive on investments. Gov. Brown’s budget calls for $153 million more to offset the rate change. Meanwhile, the large state worker retirement fund, CalPERS, which covers non-teacher employees, also projects greater funding concerns because of promised pension and healthcare costs. . . On top of the troubles for local school districts, last month the University of California Regents agreed to a 2.5% tuition increase, in part, to cover pension costs. . . And all this despite the avalanche of new tax revenue earmarked for education.
Feb. 1, 2017
According to a landmark study for the Equality Opportunity Project, Stanford’s Raj Chetty and coauthors found that certain state and community colleges offer effective pathways to higher incomes for younger generations. . . Of the top ten colleges in the country with the best mobility rates, three are in California: top-ranked Cal State Los Angeles, Glendale Community College and Cal Poly Pomona.
Jan. 14, 2017
For taxpayers, the number change likely means more dollars from state and local government budgets will be directed to cover pension liabilities and less will be available to meet services supplied by government. The city of Los Angeles already dedicates 20 percent of its budget for pension obligations, Anaheim 13 percent, Long Beach 11 percent and San Jose as high as 27 percent. These numbers will only increase after the CalPERS board’s decision.
Nov. 30, 2016
Since manufacturing is the engine of economic growth, especially for the middle class, we thought we would see which states are having the sector’s best bouncebacks since the recession. Of the 32 states that average more than 100,000 manufacturing jobs overall, Michigan has attracted the largest percentage of growth with 32.49 percent since 2010. California was 24th of 32 states at 2.57 percent.
Nov. 18, 2016
As housing prices continue to rise in California, a significant number of our residents are being denied access to the American dream of homeownership. Today, only about one-third of our fellow citizens can afford to buy a median-priced home in the Golden State, down from a peak of 56 percent just four years ago.