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California Public Pensions To Destroy State If Left Unchecked
7 hours ago ago from Yes, But, However!
The editorial below details the reasons California citizens need to get the signatures of 434,000 people by June 14, 2010 in order to qualify Initiative #1435 for the November ballot. Initiative #1435 would simply limit pensions for new state hires to $100,000. Public-employee unions have roundly rejected Initiative #1435 as they consider the public treasury their own. From the Contra Costa Times WHILE CALIFORNIA lawmakers again ...
Related contentStates, Cities Likely to Slash Jobs As Stimulus Dwindles
13 hours ago ago from The Cynical Economist
From CNBC By: Albert Bozzo The worst looks to be over for private-sector unemployment, but it may be just beginning for state and local government workers. They call it the cliff, says Sigritz. State and local government payrolls typically don’t decline much until a year after the beginning of a recession because budgets are already in place and fairly inflexible. As a result, payrolls were stable in 2008 and a good ...
Related contentOfficials: State cannot escape budget shortfall
21 hours ago ago from Democrats of Senate District 24 - Moving Texas Forward
Kate Alexander | The Austin American-Statesman The Texas economy seems to have turned a corner, but the improvement will not be enough for the state to avoid a significant shortfall in the next budget, state officials said Monday. Sales tax collections are slowly picking up as more jobs are added in Texas, said John Heleman , the Texas comptroller's chief revenue estimator. In February, the state's sales tax collections were ...
Related contentState's budget deficit may hit $15B
21 hours ago ago from Democrats of Senate District 24 - Moving Texas Forward
Zahira Torres | The El Paso Times AUSTIN Texas may be slowly adding jobs and sales tax revenues might be improving slightly, but lawmakers could still face a budget deficit of up to $15 billion next year, state officials said Monday. John Heleman, the chief revenue estimator for the Comptroller's Office, said the state added about 30,000 jobs in January, mostly through temporary agencies. Preliminary estimates also show that ...
Related contentJohn Faso: Why the Ravitch Plan is flawed
9 hours ago ago from Capital Business Blog
John Faso, the 2006 GOP can didate for governor, is a co-founder of New Yorkers for Growth writes in an op-ed in today's New York Post - LT. Gov. Dick Ravitch yester day outlined a five-year financial-recovery plan to plug the state's immediate $9 billion budget hole and address its looming $60 billion structural deficit over the next half decade. His two big fixes? More debt to finance current operating deficits, and a new body to ...
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California boosts bond deal to $2.5 billion amid strong investor demand
1 hour, 47 minutes ago ago from The Los Angeles Times
Robust investor demand allowed California to increase the size of a bond offering to $2.5 billion from $2 billion in a deal that wrapped up Thursday. The tax-free general-obligation bonds, which will fund voter-approved infrastructure projects, attracted orders totaling $1.38 billion from individual investors in a retail order period Tuesday and Wednesday. With just $620 million of the original $2-billion deal left, the state took in $3.3 ...
Related contentU.S. budget deficit hit record $221 billion in February
23 hours ago ago from The Los Angeles Times
Even in an era when we’re supposed to be used to huge federal budget deficit numbers, February s was a monster: $221 billion, the largest monthly deficit ever in gross dollars. The figure was disclosed by the Treasury Wednesday in its monthly update on the government’s finances . Last month’s deficit was up 14% from the $193.8-billion gap in February 2009. The deficit so far in this fiscal year (which began in October): $651.6 billion, up ...
Related contentCalifornia trade numbers improve again
3 hours ago ago from The Los Angeles Times
For the third straight month, California s exports showed improvement over the same period a year earlier, according to an analysis of federal trade data by the University of California Center Sacramento . The $10.3 billion in goods shipped abroad in January represented a 18.5% increase over the $8.7 billion recorded during the same month last year. The products shipped by land, sea and air included high-end, top-value items such as ...
Related contentSenate Health Bill Would Cut Deficit By $118 Billion Over Decade
7 hours ago ago from Huffington Post
WASHINGTON Congressional budget referees say Senate legislation that's now the foundation for President Barack Obama's health care plan would cut the federal deficit by $118 billion over 10 years. The Congressional Budget Office says the $875 billion, 10-year plan would provide coverage to 31 million people who'd otherwise be uninsured. And it says the cost would be more than offset in savings from changes in Medicare and other programs. ...
Related contentSenate-passed health care bill would cut deficit
9 hours ago ago from U.S. News
Senate-passed health care bill would cut deficit WASHINGTON (AP) -- Congressional budget referees say Senate legislation that's now the foundation for President Barack Obama's health care plan would cut the federal deficit by $118 billion over 10 years. The Congressional Budget Office says the $875 billion, 10-year plan would provide coverage to 31 million people who'd otherwise be uninsured. And it says the cost would be more than offset ...
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