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California Budget: Time for Real Solutions

California Budget

'Truly Awful,' says Legislative Analyst

New Legislative Analyst Mac Taylor didn't mince any words in summarizing California's fiscal situation, calling it, "truly awful." The LAO also said the Governor's recent projection of an $11.2 billion deficit in this fiscal year and up to $27.8 billion through the end of Fiscal Year 2009-10  was "realistic." SEIU California State Council called the crisis a "test of leadership," and added, "There is no question that the right course for our people and our economy must include real, sustainable revenues to protect seniors, children, families, and people with disabilities."

Read the LAO's report on the Governor's proposal and a summary by the California Budget Project.

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We Did It! SEIU Members Made History!

2008 ElectionSEIU members helped change the course of our nation at a critical time, electing the next President of the United States Barack Obama in a decisive 52-46% victory that will give him a mandate for change. Here in California, we continued to build a stronger majority in the legislature supportive of working families, adding three new Assemblymembers we backed and winning both of our targeted State Senate races. For more information about these and other races, read on.

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CalPERS: No Immediate Budget Impact from Market Downturn

A recent Wall Street Journal article raised concerns over whether the recent market downturn would require greater contributions from the state and local governments to CalPERS, the public employees' retirement fund, which would put pressure on already shaky state and local budgets. CalPERS released a statement emphasizing that there will be no immediate impacts on the contribution rates, that rates are based on returns spread out over 15 years, and that the earliest point at which the rates would reflect any of the current losses would be in the fiscal year that starts July 1, 2010. SEIU is watching the matter closely.
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The California Budget saga continues.

» Read latest budget news.