Rainy Day Fund Measure a Test of “Fiscal Restraint”
Let’s take the governor’s prediction on the budget at face value ignoring the what-ifs and skullduggery in Washington and conclude that the state of California will have a $1 billion surplus at the end of 2013–14. How do you make sure that the surplus is around for a rainy day and not spent by a […]
Brulte the Ethiopian
Before buying a house about a year ago, my family lived in a rented apartment in the heart of Los Angeles, near the tar pits and the county art museum. We were also a block north of the stretch of Fairfax known as Little Ethiopia. As a special treat, we enjoyed dining in the several […]
Moody’s New Pension Rules Would Bankrupt Six Cal Counties
To meet new public pension financing rules, six counties in California would have to dedicate all of their existing property taxes to pay for pensions or pursue municipal bankruptcy through the courts. That is the conclusion of an independent pension analyst of the new pension rules established last year by Moody’s municipal credit rating agency. […]
LAO Whitewashes Gov. Brown’s Rosy Budget
SACRAMENTO — “Everything’s Coming Up Roses,” from the Broadway musical Gypsy, should be Gov. Jerry Brown’s new theme song. His 2013-14 budget proposal, released last Thursday, was full of happy news, good times a projected balanced budget and an upcoming surplus. Clear the decks! Clear the tracks! You’ve got nothing to do but relax. Blow a […]