Finance | California Policy Center

California’s schools are burning down, and teachers union leaders bring the gasoline

In just three days in early May, California’s teachers unions opened the vault and moved $1.2 million into Tony Thurmond’s campaign for Superintendent of Public Instruction. Thurmond has earned their favor. In nearly four years as the incumbent, he has advanced the unions’ demands to end charter schools, and endorsed teacher strikes — which, in...

By Eric Green

The School Fiscal Officer’s Dilemma

Most California school districts and their labor unions have finally come to terms on COVID-19 protocols, reconciling federal and state funding and mandate issues with the funding given them in several relief packages. Now, a new round of labor unrest is percolating across the state as new compensation contracts are negotiated. Teachers expect sizable raises,...

By Mark Moses

ESG Investing and Public Sector Unions

This article originally appeared in the California Globe. For the last few decades what used to be referred to as socially responsible investing has more recently morphed into “ESG” investing. The acronym stands for “environment, social, and governance,” and refers to how investors should evaluate the impact that every company they’re considering investing in has, positive or...

By Edward Ring

California State and Local Liabilities Total $1.6 Trillion

California’s total state and local government debt now stands at almost $1.6 trillion, or about half the state’s GDP. That isn’t an alarming ratio when compared to the national debt, which has now soared to 128 percent of U.S. GDP with no end in sight. But Californians carry this $1.6 trillion state and local debt ($40,000 per capita)...

By Edward Ring

Ill-Timed Fossil Fuel Pension Disinvestment Bill Threatens Economy

As international tensions threaten US and global energy supplies, the California State Senate is considering legislation that would compel public pension funds to divest from fossil fuel companies, potentially starving these firms of capital. The Senate bill is the latest in a series of initiatives designed to replace traditional portfolio management with a set of...

By Marc Joffe

California is Rolling in Education Money

The governor of CA is about to go on a taxpayer-funded spending spree. Last week, California Gov. Gavin Newsom announced his education spending plan, which comes to $119 billion including local, state and federal sources. This would raise per-pupil spending to $20,855, and make California one of the highest spending states in the country. (That...

By Larry Sand

Our Full-Employment Division

Why didn’t California’s unemployment office heed past audits? Because real efficiency means fewer jobs. The report last week that the state Employment Development Department had paid $20 billion in bogus jobless benefit claims, including $810 million to convicts, added to the view that EDD is the government equivalent of a dumpster fire. It came days...

By Chris Reed

How “Vax for the Win” became a huge loss

As the number of new people getting vaccinated in California has decreased over the past few months, Governor Gavin Newsom announced a new program, “Vax for the Win” to provide incentives to those who are on the fence about getting the shot. While Newsom was not the first governor to institute such programs (see Ohio), he...

By Brandon Ristoff

How the people can fix California

The deadline to file citizens initiatives for the November 2022 state ballot is this August, and not nearly enough has been done so far. Active measures submitted to the California Attorney General include the highly necessary proposition to “prohibit slavery and involuntary servitude,” along with one to “require earth sustainability training in public schools.” Because apparently we’re...

By Edward Ring

Why are we not talking about California’s pension problems?

It is no secret that California has its own myriad of economic issues: high taxes, a bloated government, overly powerful unions, and many more. However, one issue that is a product of all of these, but does not get nearly enough attention, is skyrocketing public pensions. For as long as I can remember, unions and...

By Cecilia Iglesias

Defining an omni-shambles: California’s unemployment agency

By: Thomas Buckley, Guest Contributor The organization’s crisis response has opened a window into how it truly feels about the public it serves On January 1, 2021, 1.4 million Californians woke up with something much worse than a hangover. They found a surprise email from the state’s Employment Development Department telling them that their unemployment...

By Thomas Buckley

Fighting, and Winning, School Choice in California

There is going to be a school choice initiative on the state ballot in November 2022. While this is not an absolute certainty, the grassroots support for school choice is strong, and the infrastructure necessary to nurture a grassroots effort is now in place. The RecallGavin2020 campaign has proven the model, and fed up parents from Chula...

By Edward Ring

Newsom Can’t Hide Behind Pandemic

In his 2021 State of the State Address, Governor Newsom’s focus, to the exclusion of nearly everything else, was to defend his response to the COVID-19 pandemic. A quick review of the 3,634 word transcript indicates only 20 percent of his remarks had to do with anything else. It’s understandable that Newsom would focus on the pandemic....

By Edward Ring

Letter to the Governmental Accounting Standards Board (GASB)

In a little-known and influential institution, a group of experts at the Governmental Accounting Standards Board (GASB) regularly update best practices and standards for government financial practices and procedures. They are best recognized for their generally accepted accounting principles. As described in their website, “GASB develops and issues accounting standards through a transparent and inclusive...

By Jordan Bruneau