February, 2012

Governance by Boondoggle

Wednesday, February 29th, 2012

FEB. 29, 2012 The road to California’s financial recovery will be long and arduous. But a first good step is putting an end to taxpayer-financed boondoggles. We know from the collapse of the Soviet Union and other failed regimes around the world that centrally planned job creation does not wor...

Broke State Budget Hits Dead End

Wednesday, February 29th, 2012

FEB. 29, 2012 By KATY GRIMES In in an effort to avoid a cash-flow problem, State Treasurer Bill Lockyer appeared on Bloomberg news last week talking about the sale of $1 billion in state revenue anticipation notes to Barclay's and JP Morgan. “The private placement deal is part of a $3.3 billi...

Municipal Bankruptcy Stalks Stockton

Monday, February 27th, 2012

FEB. 27, 2012 By WAYNE LUSVARDI Stockton, California’s 13th largest city, may be moving from “Fat City” to “Mudville.” Both were former historical names for Stockton.  “BK” is shorthand for bankruptcy. On Feb. 23, Stockton City Manager Robert Deis asked the city council to suspend ...

State Edu-Welfare Expansion Plans

Tuesday, February 21st, 2012

FEB. 21, 2012 More than 50 percent of California college students do not pay for school at the state’s public colleges and universities. Unfortunately, the dropout rate is also about 50 percent. This is because, along with all of the free money for school, there are very dew academic requirement...

Loan Bailout Rips Off Middle Class

Monday, February 13th, 2012

FEB. 13, 2012 By WAYNE LUSVARDI In a modern version of one of Aesop’s classic fables, a whooping crane swoops down and gobbles up a frog. But the frog reaches an arm out of the crane’s mouth and grabs its throat so that the bird can’t swallow him. The crane says: “O unhappy me who have fou...

Stock Market Not Helping Pension Funds

Friday, February 10th, 2012

FEB. 10, 2012 By JOHN SEILER California Pension Reform just suspended its attempt to put an initiative on the November ballot. It ran out of money -- sort of like the pension funds themselves. Meanwhile, the stock market seems to be recovering from the slump of the second half of 2011. As Profit ...

Other States Bail Out CA Mortgages

Friday, February 10th, 2012

FEB. 10, 2012 By CHRISS STREET Just over a week ago I published here on CalWatchDog.com “New California Budget Crisis May Torpedo November Tax Increase Initiative.” The report illuminated how state Controller John Chaing had shocked California’s spendthrift politicians by announcing the stat...

Our Budding Young Scholars…

Thursday, February 9th, 2012
Our Budding Young Scholars…

John Seiler: America spends something like $400 billion a year on K-12 public-school education. That's $400,000,000,000.00. Here's the result: Feb. 9, 2012...

Think Long Comes Up Short

Thursday, February 2nd, 2012

The following first appeared in City Journal California. FEB. 2, 2012 By STEVEN GREENHUT California’s ongoing budgetary and political dysfunction has spawned a host of reformers backed by wealthy donors. The latest scheme, released with much fanfare in late November, is a report produced by the...

CA Already Max Taxes Crude Oil

Wednesday, February 1st, 2012

FEB. 1, 2012 By WAYNE LUSVARDI How “crude” of them. Tax activists in California are pushing a deceptive “oil severance tax for public education” for the November 2012 ballot to increase funding for K-12 public schools, junior colleges and state universities. They’re calling it the “Ta...