Tag "recession"

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Hearing uncovered abuse of CA special funds

SACRAMENTO — Only in government is borrowing considered a legitimate way to balance a budget. In California it has become standard operating procedure. To address this growing problem, the state’s Special Funds were the subject of a hearing last week

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CA jobless rate drops to 8.6 percent 5

June 24, 2013 By John Seiler The good news: California’s unemployment rate dropped to 8.6 percent in May. That’s the lowest since the 2008 Great Recession struck. The bad news: It’s still twice as high as it was in 2006,

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Sales tax holiday bill killed in leg committee 2

April 15, 2013 By Katy Grimes Assemblywoman Melissa Melendez has been leading the cause aggressively for a few weeks to give California taxpayers a  sales tax holiday, every tax day. Under Assembly Bill 718 by Melendez, R-Lake Elsinore, taxpayers would enjoy

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How will the Cyprus crisis impact the U.S.?

March 28, 2013 By Katy Grimes Is America headed for a Cyprus-like crash? These are the headline stories today from the Drudge Report: ‘THEY HAVE STOLEN OUR MONEY’… Cyprus banks reopen, with strict restrictions… €300 daily withdrawal limit… No money

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LAO: CalSTRS massively underfunded 36

March 26, 2013 By Katy Grimes SACRAMENTO — The state’s Legislative Analyst released another stinging report last week showing the California State Teachers’ Retirement System suffers $73 billion of unfunded pension debt. But CalSTRS is using doubtful figures to minimize the

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Inside state government ineptitude 3

March 6, 2013 By Katy Grimes The State of California has a serious backlog of new business filings, so says Secretary of State Debra Bowen. “Secretary of State Debra Bowen is concerned about the backlog, said spokeswoman Shannan Velayas, and intends to

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Carl’s Jr. CEO: What recovery? 29

Feb. 17, 2013 By John Seiler One of California’s largest businesses is the Carl’s Jr. restaurant chain, headquartered in Anaheim. Its CEO, Andrew Puzder, just co-wrote an article pointing out that the national economic “recovery” has been a mirage: “The

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Politicians, media distort economic facts 55

Feb. 6, 2013 By Katy Grimes The U.S. economy lost more than 1.4 million jobs between December and January. But it’s almost impossible to find any reports in the mainstream media about this. Instead, the media primarily have reported on reduced

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Uh-oh: GDP declined in late 2012 7

Jan. 30, 2013 By John Seiler The wild spending plans of President Obama, Republican House Speaker John Boehner and Gov. Jerry Brown depend on the economy growing. This just in: “The U.S. economy posted a stunning drop of 0.1 percent

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Productivity slowing — bad news for budgets 3

Jan. 17, 2013 By John Seiler Both the U.S. and California budgets depend on continuing economic growth. Gov. Jerry Brown has cautioned that his ambitious spending plan could fall apart if growth slows. This just in: “Global productivity growth has

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