California state budget

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California's state budget is eight weeks overdue as the state faces an estimated $19.1 billion deficit, after trimming billions of dollars from state spending last year and temporarily raising some taxes.[1][2]

California will receive approximately $3.1 billion from H.R. 1586, a $26 billion plan to give states money for Medicaid and education that the President signed into law on August 10, 2010.[3]

On July 28, 2010, Gov. Arnold Schwarzenegger declared a financial state of emergency and ordered 150,000 state workers to take furlough three days per month.[4]

The state's fiscal year 2011 began on July 1, 2010, and the state did not have a budget, two weeks after the legislature failed to pass a budget by the deadline of June 15, 2010, the 23rd time in 24 years that the legislature has missed the budget deadline.[5] The Legislature's four leaders - two of whom will be in their first budget negotiation as leaders - and Gov. Arnold Schwarzenegger met face-to-face for the first time on June 14, 2010, the eve of the deadline.[1] The lack of a budget costs the state $52 million a day, according to the Department of Finance.[6]

The legislative session ended on Aug. 31, 2010, and lawmakers voted on two competing budget proposals which both failed on party-line votes.[7] Substantial budget negotiations are expected to later this month.>ref name=theatrics/> The governor is expected to call lawmakers back for a special session on just the budget.[8] Members of both parities have mentioned the possibility of not reaching an agreement until the next governor takes office in January 2011.[2] "If I do not get all of the things that we need ... I will not sign a budget, and it could actually drag out until the next governor gets into office," Schwarzenegger said. Senate President Pro Tem Darrell Steinberg responded in a statement that he was "prepared to grant his wish."[9]

See also: The California State Budget on State Budget Solutions

[edit] Fiscal Year 2011 State Budget

The Assembly and the state Senate both addressed the 2 pending budget proposals, one from the governor and one from the Democrats, on Aug. 31, 2010, the final day of the legislative session and neither proposal gained the necessary support from across the aisle.[7] The budget needs a two-thirds majority to pass as required by the state constitution, and Democrats are short by two votes in the Senate and five in the Assembly.[10] Gov. Schwarzenegger called the vote "kabuki" as each party blamed the other for the more than two month delay in passing a state budget.[7] Gov. Schwarzenegger is expected to call lawmakers back for a special session to solve the budget problem.[8]

Some lawmakers, however, have said that their colleagues appear to be willing to wait to pass a budget after the November election, the thought being that a new governor and a state ballot initiative could boost either party.[11]

Gov. Schwarzenegger proposed borrowing $2 billion from the California Public Employees' Retirement System as an advance against future savings from planned pension cuts to help bridge the state's budget deficit.[12][13]

State Controller John Chiang said in the fifth week without a state budget that he would begin issuing IOUs in late August or September if the budget stalemate continues.[4] State highway officials said they may be forced to slow or halt more than $3 billion worth of road projects statewide if the state budget is not passed by September.[14] Additionally, the state was forced to delay $2.9 billion in payments to California school districts in order to fund pension plans and state debt.[15]

[edit] Federal Funds

H.D. Palmer of California's state Finance Department said the bill will send $1.2 billion directly to the schools and another $1.3 billion that can be used to help plug the state's $19 billion budget hole. The amount is about $500 million less than Schwarzenegger's budget proposal assumes.[16] Jennifer Kuhn, the director of K-12 programs for the nonpartisan California Legislative Analyst's Office, said that while the federal money would help officials fill a lot of positions, it's uncertain whether those jobs would be filled in time for the new school year.[16]

[edit] State Workforce

Furlough Days

Roughly 150,000 California state employees face furloughs again beginning Friday after a state Supreme Court ruling Wednesday.[17]

The state Supreme Court ruling overturned a lower court decision that temporarily blocked unpaid days off for roughly 150,000 workers because of the state's budget impasse.[17] The governor had originally ordered that 150,000 employees take 3 furlough days a month, resulting in a 14% reduction of salary and saving the state $147 million a month. The decision was issued on Aug. 18, 2010, which set the furloughs to begin on Aug. 20, 2010.[17] Most state agencies, including the Department of Motor Vehicles and the Department of Public Health, will be closed that Friday and Friday of the following week.[17] Employees must also take an unpaid day off in August.[17] Prior to the court's order, the furloughs were set to begin on August 13, 2010.[18]

The state Supreme Court said that all furlough litigation, including the lower court's restraining order, was to be put on hold until the court rules on the larger issue of whether the governor has the power to order the time off. Unions had sued to block the furloughs.[17]

The furloughs were anticipated to save roughly $80 million per month, which would help shrink California's $19.1-billion general fund deficit. The governor's order said the furloughs would end when a budget is enacted and the governor's finance department determines that California has enough cash to meet its obligations.[4] The governor can furlough most state government workers, but not those in the legislative and judicial branches or employees of community colleges and state universities. He has requested that those entities implement similar measures.[4]

Minimum Wage

After more than a month passed after the budget due date, Gov. Schwarzenegger issued an order on July 1, 2010, reducing over 200,000 employees' pay to minimum wage until the impasse is over. On July 16, 2010, however, Sacramento County Superior Court Judge Patrick Marlette denied the administration's request for a temporary restraining order that would have forced the controller to pay the federal minimum wage immediately to about 200,000 state workers. He found it would cause too much harm to employees. The judge did, however, allow the administration's lawsuit to proceed so the courts can determine whether the controller must pay minimum wage in the future and discussed setting a hearing on the case in August. Deputy Controller Hallye Jordan said the decision means state workers will continue to receive full wages through July and August.[19]


Employees in the six bargaining units that had not agreed to labor deals would receive minimum allowed by federal law – $7.25 an hour – and then their salary will be restored once there's a budget.[20] Controller John Chiang said that he would not follow the order unless told to do by a court.[20][21]

[edit] Possible Budget Plans

Neither party can pass a budget on its own because a two-thirds vote to pass a state budget and tax hikes.[2]

Initially, there were three proposed budget plans are before the legislature, one from the Democratic caucus in the Assembly, one from the Democratic caucus in the Senate and the governor's proposal.[22] After a few months, the Democratic leaders of California's legislature together developed a joint state budget plan.[23] Republican lawmakers have offered no detailed road map for how to balance the state’s books.[1]

Some provisions are found in all proposed budget plans, including giving additional funds to California State University and the University of California to account for enrollment growth; $450 million from reduction of state personnel costs, largely through attrition; an $811 million reduction in prison health care and saving $244 million by moving low-level prisoners to county jails. All plans assume $3.4 billion in federal assistance, which seems doubtful given that Congress has not yet approved a $1.8 billion in Medicaid funds for the state. They all also assume the state will make $600 million from the sale of 11 office buildings, with plans for the state to then lease those buildings back over 20 years.[22]

The Democrat's budget proposal, drafted by Assembly Speaker John Perez and Senate President Pro Tem Darrell Steinberg, includes tax proposals worth about $4.5 billion, with the funds coming from an oil severance tax, delaying corporate tax breaks and income tax increases paired with a reduced sales tax. It cuts spending by $8.3 billion.[24] Steinberg said the plan includes $8 billion in budget cuts but rejects Schwarzenegger's "gratuitous cuts that would devastate our economy, our people, and eliminate hundreds of thousands of jobs."[23] Several weeks after its proposal, the education lobby withdrew its support because it calls for suspending Proposition 98, the constitutional provision that guarantees funding for K-12 schools and community colleges and instead funds schools at about $3 billion less than under Proposition 98.[25]

Gov. Arnold Schwarzenegger introduced a revised budget for the 2010-11 fiscal year on May 14, 2010.[26] Schwarzenegger and Republicans in the legislature's minority have ruled out tax increases and instead aim to rely largely on deep spending cuts to close a $19 billion shortfall.[23] The governor's budget includes $12.4 in spending cuts and $3.4 billion in federal funds.[26] Schwarzenegger's budget attempts to close a $3.3 billion gap using other measures, primarily borrowing from other state funds. The others include: $450 million from the sale of 24 state office buildings, despite the governor's promise that he would not go through with the sale if it doesn't work out in the taxpayers' favor; $76 million from a 4.8 percent property insurance surcharge to pay for firefighting and other emergency services.[26] Republicans also also want to roll back pensions to 1999 levels for future state workers.[2]

The governor explained 4 weeks into the budget stalemate that his goal is to create more jobs in the state, and tax incentives, not increases, are the only way to achieve that gaol. "In the history of the world, we have never seen tax increases ever having any benefit. Tax increases never created a job, never expanded companies. It's always the opposite. If you give tax incentives, you create jobs. It's as simple as that," said Schwarzenegger.[27]

During Gov. Arnold Schwarzenegger's state of the state address for 2010, he cited drops in revenue, court decisions and litigation, and state program increases as the main reasons behind the large state deficit.[28] The initial proposed budget estimates a $82.9 billion total budget for FY 2010-2011.[29] The state of California has also retained CB Richard Ellis in order to sell 17 state-owned buildings, as of December 17, 2009. According to reports U.S. Senator Dianne Feinstein's husband is the chairman of CB Richard Ellis.[30]

In January, the Gov. Schwarzenegger traveled to Washington, D.C. to request $6.9 billion in federal funds, however, according to U.S. Sen. Barbara Boxer the amount of federal aid the state is scheduled to receive is closer to $1.45 billion.[31][32]

[edit] Jobs

In July of 2010 it was reported that California lost 36,000 jobs in the entertainment industry.[33]

Failure to pass a budget could impact other jobs. Vendors don't get paid for services delivered after July 1. Clinics treating low-income residents are at risk of losing state payments in August, and community colleges have stopped receiving state payments and can borrow through early September.[2]

[edit] Education

State officials decided Aug. 23, 2010, to start delaying school payments of $2.5 billion a month in September.[34] This comes after a $2.5-billion deferral in July.[35] The state originally planned a 90-day deferral from October to January, but has moved that to a September to December time frame[36] in an effort to conserve cash, delaying the need to issue IOUs.[35] Some school districts are expected to take out short-term loans to pay their expenses.[34] An official with the California School Boards Association pointed out that borrow more funds to cover expenses raises the costs and takes money from classrooms and puts it toward interest.[35]

The state budget delay forced campuses to borrow money and threatened some students' enrollment and financial aid.[37] The chancellors of Cal State University, the University of California and the California Community Colleges said that their campuses are dipping into financial reserves or borrowing to cover the delayed state payments and, at day 58 in the stalemate, they urged lawmakers to pass a budget.[37]

[edit] Borrowing

California and Illinois are the two lowest-rated states by the three major credit-rating agencies.[38]

[edit] Ballot Measures

Proposition 22 is an initiated constitutional amendment that would put local government and transportation funds off-limits to Sacramento. Proposition 26 is an initiated constitutional amendment that would require a two-thirds supermajority vote in the California State Legislature to pass many fees, levies, charges and tax revenue allocations that under existing rules can be enacted by a simple majority vote. Both initiatives were drafted in late 2009, months before Gov. Schwarzenegger proposed the complex budget maneuver that swaps fuel sales taxes for excise taxes, which have fewer restrictions on how they can be used, and approval of either initiative could repeal that $1-billion budget patch.[39]

Proposition 25 is an initiated constitutional amendment to end the current requirement in the state that two-thirds of the members of the California State Legislature must vote in favor of the state's budget in order for a budget to be enacted and require only a simply majority.

[edit] Budget Background

California’s fiscal year starts July 1. The Governor is required to present the Legislature with a proposed budget by January 10 and the Legislature to pass a budget by June 15. A two-thirds majority is required to pass the budget in the Legislature.[40] In November 2010, voters will vote on Proposition 25, a ballot measure that would lower the vote threshold down from two-thirds, so that lawmakers could pass budgets with a simple majority.[41]

Over the past 10 years state spending from state sources has more than doubled in nominal terms (not adjusted for inflation).[42]

The California controller delayed payments in February 2009 and issued IOUs in July and August 2009. This was only the second time since the Depression that the state issued IOUs for some of its budgeted payments. In effect, the IOUs forced recipients (such as state vendors and local governments) to provide the state with a loan involuntarily. The IOUs were redeemable with interest, paid at a 3.75 percent annual rate. “Priority payments”—including school, payroll, and debt service payments—were not subject to IOUs.[43] As of August 2010, of the 450,000 IOUs totaling $2.6 billion that were issued, 66,350 remain uncashed, leaving $29 million of debt still outstanding, according to the state controller's office.[44]

Governor Schwarzenegger and legislative leaders formed the Commission on the 21st Century Economy (COTCE) to suggest changes and reforms for more reliable and stable state revenues. The Commission released its report on September 29, 2009.[45]

[edit] Budget spending

Over the past 10 years state spending from state sources has more than doubled in nominal terms (not adjusted for inflation), and during the current governor's tenure state spending from state sources has risen almost 40 percent[46] [47]:

California Spending, Years in Comparison
FY 1997-1998 FY 2003-2004 FY 2007-2008
State spending $68.5 billion $104.2 billion $144.8 billion
Federal money $31.6 billion $52.5 billion $59.5 billion

Note: California's legislators have declined to put details of the state's spending online.

General Fund Spending by Major Program Area (In Millions)[48]

Programs Actual 2007-08 Estimated 2008-09 Enacted 2009-10
K-12 Education$39,825$32,356$33,745
Higher Education11,82310,13810,495
Health19,906 18,79416,077
Social Services9,43210,0098,876
Criminal Justice13,05912,7789,032
All Other8,9547,4726,358
Totals$103,000$91,547$84,583

General Fund[49]

Category FY2009 Amount in millions Actual FY 2010 Amount in millions Estimated
Beginning Balance 4,071-5,855
Revenues 82,77288,084
Adjustments-1,7570
Total Resources 85,08682,229
Expenditures 90,94086,092
Adjustments00
Ending Balance-5,855 -3,863
Budget Stabilization Fund015

Fiscal 2010 Tax Collections Compared With Projections Used in Adopting Fiscal 2010 Budgets (Millions)[49]

Category Amount
Sales Tax Original Estimate27,609
Sales Tax Current Estimate 26,036
Personal Income Tax Original Estimate48,868
Personal Income Tax Current Estimate46,640
Corporate Income Tax Estimate8,799
Corporate Income Tax Estimate9,407

[edit] Accounting Principles

Main article: California government accounting principles

Elaine M. Howle has been California State Auditor since 2000. The Auditor and her office report to the Joint Legislative Audit Committee (JLAC), a 14-member committee comprised of seven Senators and seven Assembly Members or through legislation.[50] The California State Auditor’s Office publishes its audit reports online.

Credit Rating Fitch Moody's S&P
California[51] BBBBaa1A

The Institute for Truth in Accounting (IFTA) rates California “Tardy” in filing the state’s Comprehensive Annual Financial Report (CAFR) – The annual report of state and local governmental entities. IFTA rated 22 states timely, 22 states tardy, and 6 states as worst. IFTA does not consider California’s CAFRs, and those of the other states, to be accurate representations of the state’s financial condition because the Generally Accepted Accounting Principles (GAAP) basis does not include significant liabilities for the pension plans and for other post employment benefits, such as health care.[52] California’s State Controller is responsible for filing the CAFR. John Chiang was elected State Controller in November of 2006.[53]

[edit] 2009-2010 budget crisis

The California State Legislature passed substantial amendments to the budget in July 2009. Gov. Schwarzenegger responded to the July legislation by using his line-item veto powers to produce a final FY 2010 budget with a $500 million surplus to be used as a reserve.[54]

California’s FY 2010 General Fund budget has $90 billion in revenues and transfers with $85 billion in expenditures. The $5 billion surplus will pay the $4.5 billion deficit from FY 2009 and leave a $500 million reserve. General Fund expenditures were $103 billion for FY 2008 and $92 billion for FY 2009.[55]

The size of the 2-year deficit for all funds (FY 2009 & FY 2010) estimated in January of 2009 to be $41.6 billion grew to almost $60 billion by July of 2009. The February 2009 budget package included $14.5 billion in spending reductions, $12.5 billion in temporary tax increases, $8.5 billion in federal stimulus funds, and $0.3 billion in borrowing for a total of $35.9 billion.[56]

The July of 2009 budget package added $18 billion in spending cuts, $3.5 billion in one-time measures and transfers, and $2.2 billion in borrowing. The combined February and July budget packages closed the entire 2-year gap by $59.5 billion.[57]

[edit] Proposed budget cuts

According to reports the proposed FY 2011 total budget is estimated to be $118.8 billion. The general fund, however, is $82.9 billion, $3.1 billion less than the previous year. Proposed budget cuts include cuts to health, social services and transportation programs. Additionally, state workers' salaries will be reduced and corporate tax breaks will be rolled back.[58]

Proposed budget cuts are outlined below:

[edit] 2008-2009 budget crisis

[edit] Ideas about budget deficit

[edit] Budget transparency

Main article States with spending online
See also Evaluation of California state website

California currently has no statewide, official spending database online, despite multiple, recent attempts to pass legislation that would create one. However, Assembly Member Kevin de León introduced AB 400, a bill that would bring partial transparency to California's state spending. It was be heard on June 23, 2009 and was re-referred to the California Senate's Committee on Appropriations.[63] In addition, on June 19, 2009, California launched a transparency website that details government contracts of $5,000 or more.[64] Visit the new government transparency site by clicking here.

Twenty other states have put their spending online since 2007.

[edit] Economic Stimulus Transparency

Thirteen California projects were noted in Senator Coburn and Senator McCain's "Summertime Blues, 100 stimulus projects that give taxpayers the blues" report. In one project, the California Academy of Sciences received nearly $2 million to send researchers to the Southwest Indian Ocean Islands and east Africa, to capture and analyze thousands of exotic ants.[69] Another project gave $308 million to Hydrogen Energy California, LLC (HECA), owned largely by BP, to “generate more environmentally friendly electricity by capturing carbon dioxide from the burning of fossil fuels.”[70] A third project awarded Boeing a $16 million no-bid contract in stimulus money to clean up a California site it helped pollute.[69]

[edit] Error in ARRP

On November 16 and 17, 2009, many errors were found in the $747 billion plan that showed the plan set aside money for districts that do not exist. According to Recovery.gov, the plan shows its funds will go to 884 Congressional Districts, though there are only 435.[71][72]

The ARRP website claims to have to created jobs in 9 Congressional Districts in California that do not exist.[73]

[edit] Transparency evaluation

The following table is helpful in evaluating the level of transparency provided by a state spending and transparency database.

Criteria for evaluating spending databases
State DatabaseSearchabilityGrantsContractsLine Item ExpendituresDept/Agency BudgetsPublic Employee Salary
Reporting transparency
600px-Yes check.png
600px-Red x.png
600px-Yes check.png
600px-Red x.png
600px-Red x.png
600px-Yes check.png
E Budget
600px-Red x.png
600px-Red x.png
600px-Red x.png
600px-Red x.png
600px-Yes check.png
600px-Red x.png

[edit] Supporters of online budget

On March 18, 2008, Americans for Tax Reform sent a letter to Californian legislators, urging them to support SB 1494, the Taxpayer Transparency Act of 2008, which was sponsored by Sen. Tom McClintock.[74]

[edit] Public employee salaries

[edit] See also

[edit] External links

[edit] Budget links

[edit] Additional reading

[edit] References

  1. ↑ 1.0 1.1 1.2 Los Angeles Times "Top lawmakers, Schwarzenegger meet on eve of budget deadline" June 14, 2010
  2. ↑ 2.0 2.1 2.2 2.3 2.4 The Sacramento Bee "Feeling little heat, California leaders drag out budget battle" July 28, 2010
  3. ↑ Federal Fund Information for States “ARRA FMAP Extension & Education Jobs Fund Totals” Aug. 11, 2010
  4. ↑ 4.0 4.1 4.2 4.3 The Los Angeles Times "Schwarzenegger orders a new round of unpaid furloughs" July 29, 2010
  5. ↑ "Lawmakers again miss the state budget deadline" June 16, 2010
  6. ↑ San Francisco Chronicle "California begins fiscal year with no budget" July 1, 2010
  7. ↑ 7.0 7.1 7.2 The Wall Street Journal "In Sacramento, Debate and Theatrics but No Budget" Aug. 31, 2010
  8. ↑ 8.0 8.1 The Los Angeles Times "State budget vote scheduled for Tuesday" Aug. 27, 2010
  9. ↑ L.A. Times "Schwarzenegger threatens to leave office without signing budget" July 27, 2010
  10. ↑ Bloomberg "California Republicans Block Budget Plan Proposed by Democrats" Aug. 31, 2010
  11. ↑ The San Bernadino Sun "Budget nowhere in sight" Aug. 25, 2010
  12. ↑ MoneyNews.com "Schwarzenegger Seeks $2 Billion CalPERS Loan" Aug. 23, 2010
  13. ↑ The Sacramento Bee "CalPERS loan just latest budget-balancing gimmick" Aug. 22, 2010
  14. ↑ The Modesto Bee "Budget stalemate imperils $3 billion in Caltrans work" August 12, 2010
  15. ↑ LA Times, California to delay payments to schools, counties a month sooner than expected, Aug. 23, 2010
  16. ↑ 16.0 16.1 The Miami Herald "California to get $2.5 billion from jobs bill" August 11, 2010
  17. ↑ 17.0 17.1 17.2 17.3 17.4 17.5 The Los Angeles Times "California state employees furloughs to resume" Aug. 19, 2010
  18. ↑ The Los Angeles Times "Judge blocks Schwarzenegger from implementing furloughs" August 9, 2010
  19. ↑ MSNBC.com "Judge rejects Schwarzenegger minimum wage request" July 16, 2010
  20. ↑ 20.0 20.1 The Sacramento Bee "Governor puts 200,000 state workers on minimum wage" July 2, 2010
  21. ↑ The Los Angeles Times "Gov. urges minimum wage for California state workers until budget deal is reached" June 24, 2010
  22. ↑ 22.0 22.1 The Sacramento Bee "State budget: Three plans, no deal" June 27, 2010
  23. ↑ 23.0 23.1 23.2 Yahoo! News "California Democrats unveil state budget plan" August 3, 2010
  24. ↑ San Francisco Chronicle "No end in sight to state budget deadlock" Aug. 30, 2010
  25. ↑ The Los Angeles Times "Education groups no longer support Democratic budget plan August 12, 2010
  26. ↑ 26.0 26.1 26.2 MercuryNews.com "Schwarzenegger's revised state budget at a glance" May 14, 2010
  27. ↑ KPBS.com "Schwarzenegger Tells Local Business Leaders Why California Has No State Budget" July 30, 2010
  28. ↑ The Epoch Times,"California Governor Asks Federal Government for $6.9 Billion," January 10, 2010
  29. ↑ Reuters,"Schwarzenegger submits ‘draconian’ California budget," January 8, 2010
  30. ↑ Square Feet Blog,"State of California Offloading Buildings To Fill Budget Shortfalls – What A Disaster," December 11, 2009
  31. ↑ San Jose Business Journal,"California leaders warned of looming budget hole," January 22, 2010
  32. ↑ San Francisco Chronicle,"State leaders lobby Congress for federal funds," January 20, 2010
  33. ↑ Watchdog, 36,000 Entertainment Jobs Leave California, July 26, 2010
  34. ↑ 34.0 34.1 San Jose Mercury News "California school funding delay could force districts into short-term borrowing" August 25, 2010
  35. ↑ 35.0 35.1 35.2 The Los Angeles Times "State misses $2.5-billion payment to schools because of budget delay" Aug. 24, 2010
  36. ↑ Cite error: Invalid <ref> tag; no text was provided for refs named schools
  37. ↑ 37.0 37.1 The Los Angeles Times "UC, CSU, community college chiefs plead for quick budget passage" Aug. 27, 2010
  38. ↑ [The Chicago Tribune "Study: State's fiscal woes hike borrowing costs" Aug. 30, 2010 ]
  39. ↑ The Los Angeles Times "2 California propositions could undo budget patch" Aug. 4, 2010
  40. ↑ National Association of State Budget Officers, “2008 Budget Processes in the States”
  41. ↑ "California's Proposition 25 would have "majority rule" on budgets" Aug. 6, 2010
  42. ↑ Wall Street Journal, Opinion, “California's Gold Rush Has Been Reversed” by Congressman Devin Nunes, January 10, 2009
  43. ↑ Legislative Analyst’s Office (LAO), “The Budget Package, 2009-10 California Spending Plan,” October 2009
  44. ↑ The San Diego Union-Tribune "Bill would force the state to take its own IOUs" August 6, 2010
  45. ↑ COTCE Press Release, September 29, 2009
  46. ↑ Historical Data; Actual Budget Expenditures
  47. ↑ 47.0 47.1 Wall Street Journal, "Devin Nunes: California's Gold Rush Has Been Reversed", January 10, 2009
  48. ↑ California Legislative Analyst’s Office (LAO), “The Budget Package, 2009-10 California Spending Plan,” October 2009
  49. ↑ 49.0 49.1 National Governors Association and National Association of State Budget Officers Fiscal Survey of States June 2010
  50. ↑ California State Auditor Web site, retrieved October 9, 2009
  51. ↑ California State Treasurer, “Comparison of Other States’ General Obligation Bond Ratings”
  52. ↑ Institute for Truth in Accounting, “The Truth About Balanced Budgets—A Fifty State Study,” Page 35
  53. ↑ California State Controller’s Office Web site, retrieved October 9, 2009
  54. ↑ Gov. Schwarzenegger press release, “Gov. Schwarzenegger Signs Budget to Solve $24 Billion Deficit,” July 28, 2009
  55. ↑ California Legislative Analyst’s Office (LAO), “The Budget Package, 2009-10 California Spending Plan,” October 2009
  56. ↑ California Legislative Analyst’s Office (LAO), “The Budget Package, 2009-10 California Spending Plan,” October 2009
  57. ↑ California Legislative Analyst’s Office (LAO), “The Budget Package, 2009-10 California Spending Plan,” October 2009
  58. ↑ 58.0 58.1 58.2 58.3 58.4 58.5 The San Diego Union Tribune,"State budget calls for big cuts," January 9, 2010
  59. ↑ 59.0 59.1 Los Angeles Times, "How to fix the California budget", December 26, 2008
  60. ↑ Napa Valley Register, "California's budget disaster", January 23, 2009
  61. ↑ California Progress Report, "Hundreds Protest Against Governor’s Spending Cut Proposals", January 17, 2009
  62. ↑ Wall Street Journal, "States of Distress: Our local politicians want $200 billion without any shaping up," 26 January 2009
  63. ↑ "Current Bill Status: AB 400"
  64. ↑ Office of the Governor, "Gov. Schwarzenegger Furthers Commitment to Government Transparency," June 4, 2009
  65. ↑ National Taxpayers Union,"California Finally Agrees on Budget," July 22, 2009
  66. ↑ National Taxpayers Union, "A Letter to the Nation's Governors: Ensure Transparency and Accountability by Posting Stimulus Expenditures Online," March 10, 2009
  67. ↑ Wall Street Journal, "Stimulus Spending by State"
  68. ↑ recovery.ca.gov, "About Recovery.CA.gov
  69. ↑ 69.0 69.1 "Summertime Blues, 100 stimulus projects that give taxpayers the blues" August 2010
  70. ↑ [http://californiawatch.org/environment/snapshotcorporations- receiving-stimulus-funds-despite-past-troubles California Watch "Snapshot of Corporations Receiving Stimulus Funds Despite Past Troubles” January 10, 2010]
  71. ↑ $6.4 Billion Stimulus goes to Phantom Districts, Watchdog.org, November 17, 2009
  72. ↑ Stimulus Creates Jobs in Non-Existent Congressional Districts, Watchdog.org, November 16, 2009
  73. ↑ California, Watchdog.org, November 17, 2009
  74. ↑ Americans for Tax Reform, "Support the Taxpayer Transparency Act of 2008," March 18, 2008
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