Budget cuts will cripple California colleges and universities
From the 1960s to the 1990s the education system in California was second to nobody. Population flocked to this big state so that their young people not only had admission to the K-12 system, but to a social university system that rivals the Ivy League.
The University of California system is a considerable player in the world of secondary education; however, with the latest budget cuts – and the plans for more – that may all be shifting. This is a contortion and will only work to tip the scales in the sinful direction.
California's public pensions need reform
Lawyer of overhauling California's problematic pension system for public employees couldn't have chosen a more providential time to throw away their reform campaign.
The vast California Public Employees' Retirement System is in deep financial doo-doo, having lost tens of billions of dollars in frequently-notional investments, and is telling state and local officials it will need more "contributions." In between, investigations are below way into multimillion-dollar payments to placement agents who arranged some investments.
State Finance Directors Warn of More Trouble Ahead
Short-term budget gaps have knocked about states as revenues plummeted while the recession. Assistance by about $250 billion in funds from the stimulus package expected through the end of next year, states managed to close the gaps this year - 2009. But both finance directors, speaking at a Pew Center on the States event in Washington, were pessimistic about their position' following beyond fiscal 2011
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