How does a liberal, blue-state governor take on the unappealing task of slashing the budget? By shifting a lot of the pressure to the federal government. In revising California’s budget down to $203 billion Thursday, Gov. Gavin Newsom charted a plan to fill a huge deficit by tying many cuts to additional federal aid. If […]
recession
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Schools Face Prospect of Layoffs, Furloughs as State Budget Gets Slashed
California’s public schools, physically closed since mid-March and strapped for cash, are coming out of a frying pan and into a financial fire. The fire comes in the form of a $6.5 billion cut to schools’ main source of funding as well as other reductions in Gov. Gavin Newsom’s revised budget that, if enacted, would mean […]
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Schools, Health Face Deep Cuts in California’s $203 Billion Budget
Gov. Gavin Newsom revised California’s budget down to $203 billion Thursday as the coronavirus pandemic batters the state with record job losses and shortfalls. In charting out a plan to fill a huge deficit, the Democratic governor strategically tied much of the cuts to public health, public safety and public schools to additional federal stimulus […]
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What Next for California Cities? Deficits, Bailouts and Long Recoveries
Cities have been ground zero in California’s coronavirus response — with many initiating shelter-in-place orders, organizing emergency housing for homeless people and supporting health and essential workers. But even before restrictions get lifted, mayors, managers and city councils are being tested in a new way: pandemic-induced budget deficits. Already, unemployment is projected to be higher than […]
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With COVID-19, California’s Economy is in Uncharted Territory
Social distancing may be good for public health these days, but it isn’t good for the California economy. As the coronavirus pandemic forces millions of residents to cancel dates and travel plans, retreat from social life to shelter in place, key cogs of the state’s economic engine are grinding to a halt. That’s an unprecedented […]
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Pay for Graves
Question: That fiver burning a hole in your pocket (or wiggling to get out of your just-spend-it card): Do you really have the best plan for it? Coffee is so everyday. Happy hour, yeah, whatever, that’s what the other bills and credits are for. No, where you’re gonna march that itchy five bucks is to […]