Posts Tagged ‘Chriss Street’

Sequester would axe large federal spending programs in CA

Monday, February 25th, 2013

Feb. 25, 2013 By Chriss Street Over the weekend, the White House released a report detailing some of the programs and services in California that would be impacted beginning on March 1.  The Obama Administration has threatened that the cuts will result in a massive contraction of the national eco...

Misery Index about to soar in CA, US

Friday, February 22nd, 2013

Feb. 22, 2013 By Chriss Street The  “Misery Index” is inflation plus the unemployment rate. For example, today the U.S. unemployment rate is 7.9 percent and inflation is 1.7 percent. So the "Misery Index" (rounding off) is 10 points. Anything above 10 points is considered a tough time for t...

CA admits higher taxes kill tax collection

Thursday, February 21st, 2013

Feb. 21, 2013 By Chriss Street Gov. Jerry Brown was just forced to admit reality. His supposed $5 billion boost in January tax collection from Proposition 30, which increased sales and income taxes, was really just an early collection of taxes. Two weeks ago, California state revenues were up by ...

We predicted there was no tax ‘windfall’

Tuesday, February 19th, 2013

Feb. 19, 2013 By John Seiler The office of Gov. Jerry Brown and the Los Angeles Times finally are catching up with what we reported earlier here on CalWatchDog.com. The Times reports today: "SACRAMENTO — The surge of revenue that showed up unexpectedly in state coffers last month may well be off...

New energy secretary could boost CA oil production

Friday, February 8th, 2013

Feb. 8, 2013 By Chriss Street President Obama’s expected naming of Ernest J. Moniz as the next secretary of energy is good news for energy producers and consumers, especially those in California. It represents the recognition that oil and gas development is the only potential revenue source avai...

Tree ring studies confirm global COOLING, cast doubt on AB 32

Thursday, January 31st, 2013

Jan. 31, 2013 By Chriss Street Global cooling? New studies of tree rings show that it's happening. Yet California remains governed by AB 32, whose official title is the "Global Warming Solutions Act of 2006." It's seven years later. Gov. Arnold Schwarzenegger, who signed AB 32 into law, is long g...

California pension Death Star approaching

Friday, January 18th, 2013

Jan. 18, 2013 By Chriss Street When Moody’s Investors Services issued a “Request for Comment” last July about their plan to begin recalculating the effect of massive state and local unfunded pension liabilities on credit quality, I warned that this would eventually result in the across-the-...

CA should emulate MI jobs creation

Friday, December 21st, 2012

Commentary Dec. 21, 2012 By Chriss Street With the California unemployment still well above the national average, the Golden State might look to the Auto State for how to spur job growth. Last week, Michigan Gov. Rick Snyder signed legislation to enact Michigan’s first right-to-work law for ...

CA state budget goes off the cliff

Wednesday, December 12th, 2012

Dec. 12, 2012 By Chriss Street California State Controller John Chiang announced that total State revenue for the month of November 2012 fell $806.8 million, or 10.8 percent, below budget.  Democrats thought they could hammer “the rich” by convincing voters to pass Proposition 30 to create th...

Californians fleeing to Mexico

Friday, November 30th, 2012

Nov. 30, 2012 By Chriss Street On Tuesday, President Obama met with the newly elected president of Mexico, Enrique Pena Nieto.  While the press focused on the Administration’s talking points for discussions on a wide range of issues from energy to climate change, the real concern is that the M...