Source: Real Clear Markets
May 19, 2017

Since Fiscal Year 1984-1985, real special fund expenditures have ballooned a whopping 447 percent or about 6 percent, on average, per year.  In Governor Brown’s budgeting era, more and more of the budget is locked into these special funds. The May Revise pegs total special fund expenditures at $56 billion for Fiscal Year 2017-2018, about 50 percent higher than Arnold Schwarzenegger’s last budget and more than double Gray Davis’ last budget.  Moreover, we’ve seen a rise in the share of special fund spending to overall expenditures. The May Revise has special fund spending accounting for almost one-third of overall expenditures. This is not an anomaly for Governor Brown.  On average, real special fund expenditures have been 28 percent of overall spending during his last two terms – the highest of recent Governors. 

May 19, 2017

Earlier this month four economists released a study of income trends based on an under-used data source, Social Security wage records. These earnings reports are submitted by employers for the purpose of calculating workers’ tax payments and, eventually, Social Security benefits. The income amounts are quite accurate and cover a full career of wage income. The new study confirms that average male earners have seen scant wage gains over the past generation. The study also turned up a surprise. When we combine the earnings trends for men and women, the rise in inequality appears much slower than when we examine trends among each sex separately.

April 12, 2017

It may turn out that the widespread belief that most Americans' incomes have stagnated for years is, well, false or at least overstated. . . In a provocative new study, economist Bruce Sacerdote of Dartmouth College reviewed the material well-being of the poorest 50% and 25% of Americans. What he concluded was that even these families had achieved a "meaningful growth in consumption ... (despite) a prolonged period of increasing income inequality ... and a decreasing share of national income accruing to labor."

Feb. 16, 2017
The unaffordability problem affecting the Bay Area-Silicon Valley region of California is a serious statewide crisis that Sacramento isn’t taking seriously.  But this problem isn’t the Bay Area’s alone.  California’s most populous region – Greater Los Angeles – is also plagued with unaffordable homes and rentals. And March 2017’s consolidated Los Angeles election has housing affordability front and center.
Jan. 19, 2017
But Brown’s fiscal restraint posturing is more talk than action. His first enacted budget since re-election in 2010 totaled $128.3 billion (June 2016 dollars) in General and Special Fund expenditures. By 2016-2017, the budget had ballooned 30 percent to $167.1 billion. Overall, Brown has increased real General and Special Fund spending by an average of 5 percent per year.
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May 19, 2017 / Natalie Kitroeff

May 19, 2017 / Ben Leubsdorf