David Schwartzman is a Policy Research Fellow at the California Policy Center. He is a rising senior studying economics, mathematics, and finance at Hillsdale College.
It will soon be nine years since high-speed rail was passed in California. But Californians haven’t gotten the high-speed rail system they were promised. Instead, high-speed rail has taken a new form: it is more expensive and smaller in scope, and it will substantially increase traffic congestion in urban areas. High-speed rail will cost Californians...
California’s state government collected $2.68 billion less in revenues than expected during the 2016-17 fiscal year. The bad news will likely worsen California’s position relative to other states: After crunching 2015 data for fiscal conditions in all fifty states, the Mercatus Center at George Mason University ranks California 43rd. While we rank a relatively strong...
California’s previous attempts at pension reform have had a negligible impact. We should look to solutions from other states to tackle our growing pension problem. Last week, Michigan Governor Rick Snyder signed a landmark school pension reform bill that will cap the growth of pension liabilities. California legislators need to follow Michigan’s lead to save...
California is failing its employees and its citizens. Documents show that the state and local governments in California do not have enough money saved up to pay for the retirement of its current employees. The California Public Employees’ Retirement System (CalPERS) is facing future insolvency. These findings come from the 2015 CalPERS Actuarial Report for...
Later this month, we should hear some rare good news from CalPERS. Portfolio returns for the fiscal year ending June 30, 2017 may exceed 10%. The strong performance on the back of Donald Trump’s bull market that many think has ended may provide a respite for state and local governments struggling with increased pension contributions....
Across California, many local governments have raised taxes while cutting services. Local officials desperate for union support have made irresponsible deals with public employee unions, creating staggering employee costs. Taxpayer money meant to provide essential services to the least well-off instead goes directly to higher salaries and benefits. In Santa Barbara County, the 2017-2018 budget...
When it comes to school districts, bigger is not necessarily better. The number of public school districts in the United States has fallen sharply since the early 20th century: declining from 117,108 for the 1939-40 school year to 13,672 in 2014-15. While school district consolidation has slowed in recent years, the general trend continues. This...
There’s evidence of a very California coup in the city of Anaheim, where an unusual alliance of city officials, government union leaders and developers is advancing its own financial interests at the expense of everyone else. Their near-term goal: a July 12 vote by the Anaheim City Council to offer major corporations, including Disneyland, the...
Editors Note: By almost every objective standard, the educational outcomes delivered by the Los Angeles School District are among the worst in the nation. The following article documents how LAUSD has spent millions, hundreds of millions, on budget items that have little impact on the quality of classroom education, all the while attempting to blame...
ANAHEIM, Calif. — There’s evidence of a very California coup in the city of Anaheim, where an unusual alliance of city officials, government union leaders and developers is advancing its own financial interests at the expense of everyone else. Their current goal: a council vote Tuesday night by the Anaheim city council to offer major...