Oct. 2, 2013
"The cost of financing California government with bonds is expected to consume 7.7% of the state's general fund tax revenue over the next year, according to a new report from the state Treasurer Bill Lockyer.
The total bill is pegged at $7.5 billion for principal and interest. That's a reduction from last year, when it totaled $8.6 billion and was 8.8% of revenue."
Oct. 1, 2013
A Texas-based conservative think tank, the National Center for Policy Analysis, has entered the debate by launching an interactive website that allows users to calculate the tax effects of moving from one state to another.
Sept. 30, 2013
"Gov. Jerry Brown has repeatedly pledged to tear down what he calls California's ""wall of debt.""
But Brown's definition of that debt wall - about $30 billion in accumulated deficits from recent state budgets - is less than 10 percent of the debt that state and local governments have amassed, according to a new compilation by the California Taxpayers Association, if one includes unfunded liabilities for public employee pensions.
Cal-Tax researchers counted $443 billion in state and local debts, roughly two-thirds of it carried by the state and the other third by local agencies. That's the equivalent of a fifth of the state's annual economic output and amounts to $11,600 for each of California's 38 million residents.
Sept. 27, 2013
California state and local governments face more than $443 billion in outstanding liabilities from borrowing, deferrals, and other unfunded financial obligations.
Sept. 24, 2013
"California is recovering from the worst recession since the Great Depression. But as a new report from UCLA's Anderson School of Management points out, that recovery is slow and uneven.
Meanwhile, opinion polls have found that Californians remain very concerned about whether the recovery will be complete.
Gov. Jerry Brown and other politicians have been touting recovery of late, but they cannot ignore the public's angst. Often, therefore, when bills were traveling through the legislative process this year, their economic effects — positive or negative — became debating points."