Looming Deficits Present Another Opportunity to Offer Solutions for California

By Edward Ring
Just a few months ago, Gov. Gavin Newsom was bragging about California’s “$100 billion budget surplus.” At the same time, the California Policy Center was pointing out that the governor’s “surplus” was fantasy – that state and local governments owed about $1.6 trillion. In those heady days, however, with obliging media cheering him on, Newsom...

TAGS: California debt, California state budget, Government Spending, state budget

Why Can’t Sacramento’s Financial Reporting Match Private Sector Standards?

By Edward Ring
If you want current financial information on California’s state government, you won’t find it. The most recent consolidated annual financial report for California’s state agencies is for the fiscal year ended 6/30/2018. That’s over two years, or nine quarters ago. To put this in perspective, America’s publicly traded multinational corporations, with operations spread all over the globe, are...

TAGS: California debt

California’s Budget “Surplus” Ignores Crushing Debt Burden

By Edward Ring
California’s new governor, Gavin Newsom, delivered an inaugural address earlier this week that accurately reflected the mentality of his supporters. Triumphalist, defiant, and filled with grand plans. But are these plans grand, or grandiose? Will Governor Newsom try to deliver everything he promised during his campaign, and if so, can California’s state government really deliver...

TAGS: California budget, California debt