Even close observers of the California High-Speed Rail Authority have struggled to track developments for the state’s planned bullet train. The debacle began in November 2008, when 52.7% of California voters approved Proposition 1A and triggered serious planning for what could be the most expensive construction project in human history. With that kind of money...

When California Governor Jerry Brown unveiled his latest state budget, he explained that as the budget begins to generate surpluses, the state will finally begin to dismantle the “Wall of Debt” that has been accumulating. Whether or not Gov. Brown’s budget will generate surpluses, this year or any time soon, is an open question. But...