Tag "Stockton"
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Stockton to become first U.S. city to test universal basic income plan
Stockton, California, will soon become the first U.S. city to experiment with a universal basic income program, granting 100 residents $500 a month with no strings attached. The project is being backed by Silicon Valley titan Chris Hughes, whose Economic Security
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CalWatchdog Morning Read – August 5
Assembly challenger tries to make campaign issue of unreleased tax returns Stockton mayor arrested Deal reached on civil asset forfeiture bill Climate change fight may move to 2018 ballot Assemblyman under domestic violence restraining order and out on medical leave still
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Detroit sends CA another bankruptcy warning
The Stockton and San Bernardino bankruptcies in 2012 were the largest for cities in American history — until Detroit in 2013. State laws and situations differ. But there’s a new warning from Detroit for California’s municipal governments, especially as bankruptcy courts
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CA city bankruptcies unnerving bond industry
The fallout from municipal bankruptcies in Stockton and San Bernardino continues to play out in unexpected ways, with old presumptions that most significant creditors would be treated similarly falling to the way side. This week, Franklin Templeton filed vigorous objections
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Courts: Maybe public pensions can be cut
One theme CalWatchdog.com has covered over the years is that public pension programs are not sacrosanct. Although the general interpretation of the California Constitution is that the pensions must be paid — no matter what — if there’s no money,
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Stockton bankruptcy looms over 2015
The New Year is going to bring increasing difficulties for some California cities because of the 2014 settlement of Stockton’s bankruptcy. The reason: because all cities are linked under California municipal laws, especially for pension costs, borrowing costs are
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BK judge slams taxpayers on Stockton pensions
In boon to public pensioners and a shock to taxpayers throughout California, federal Judge Christopher M. Klein approved a bankruptcy plan to put Stockton city retirees at the top of the heap. That means taxpayers are at the bottom. Also stiffed
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Pension spikes crumbling CA roads
From roads to bridges and well beyond, California’s neglected infrastructure won’t receive relief this election cycle. For years, the state has lavished money on other projects — especially public pensions. Despite a flurry of bad press surrounding the crushing burdens those pensions
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Voters face pension-reform decisions
In a series of contests playing out at the state and local levels, Golden State voters will cast votes this November that could reshape the pension landscape for years to come. Races have attracted attention for offices that exercise direct influence over the institutions
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Post-Stockton, Democrat job-retention myth certain to be exposed
Both parties have bogus canards that they trot out when convenient. The worst example of this among Republicans is the idea that tax cuts always pay for themselves — that they lead to higher revenue. It could well be true
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