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CalPERS ignores Brown, delays pension payment
The CalPERS board yesterday raised the annual state payment for state worker pensions $213 million to a total of $3.7 billion, rejecting Gov. Brown’s request for a bigger increase to avoid a “loan” costing “$145.9 million over the next 20 years.” Unions asked the board to spread out higher pension costs mainly caused by a [...]
CA Dems in Legislature Push Tax Increase — Without Approval from the People
When one political party controls both the legislative and executive branches of government, disputes are usually fought behind closed doors and the battles rarely see the light of day. But that’s not happening in Sacramento, where legislative Democrats are on a collision course with Governor Jerry Brown’s promise not to raise taxes without a vote [...]
Butt out of JP Morgan, Senator Warren: Stop Bailing Out Banks!
So J.P. Morgan followed an investment strategy straight to a $2 billion loss, causing heads to roll and tarnishing the reputation of one of its erstwhile best (and now ousted) managers of balance sheet risks. Her name is Ina Drew, and until this latest news, she was J.P. Morgan’s chief investment officer. She earned $15 [...]
Has Jerry Brown’s budget deficit become a cliche?
Has California’s legendary structural budget deficit evolved into an overworked and obsolescent cliche? This is a question to be asked of Gov. Jerry Brown announcement yesterday that the state general fund budget deficit has ballooned to $16 billion from the previously reported $9 to $10 billion. However, the website for the independent state Legislative Analyst’s Office indicates the [...]
Ted Nugent: California Dreamin’? More like California Nightmarin’!
Will the last American left in California please turn out the lights? And don’t let the door slam you in the behind. California isn’t going broke. It’s already broke and is $16 billion in the hole. With businesses leaving the state in record numbers because of punitive taxes and bizarre overregulation, the only way forward [...]
CPR Blog
Anyone want 3 trillion barrels of oil?
Where’s this story in the MSM? This would be the one where a geologist from the General Accounting Office happens to mention to a congressional committee that there are 3 trillion barrels of oil – of which half may be recoverable – within the oil shale in the Green River Formation in Colorado, Utah and Wyoming. How [...]
ObamaCare Introduces Hidden 3.8% Home Sales Tax
“I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes,” President Obama, September 12, 2008 Beginning January 1, 2013, ObamaCare imposes a 3.8% [...]
Obama/Brown 2012
President Obama should seriously consider dumping Joe Biden as his running mate and replacing him with Jerry Brown. Why? Because in Mr. Brown he would have a true soul mate. Now, this has nothing to do with gay marriage. It’s pure politics. The president must look at Governor Brown’s proposals for fixing California’s economic mess [...]
Publisher’s Corner
Romney’s tax extension is a political blunder
In tennis they call it an “unforced error.” It is an action that allows your opponent to score without the opponent having to do anything at all. And it is what Mitt Romney just did by filing for an extension on his 2011 Federal tax return — to October 15, 2012, about three weeks before [...]
Cali-Culture
CA Everest Team Leaving For Summit Bid!
After all the planning, preparation, acclimatization climbs, and getting rested and strong at Base Camp we are leaving for our summit attempt! We spent the last couple days doing our final preparations as we have watched the weather show signs of improvement. This season on Mt Everest has been characterized by higher and more consistent [...]
Trending News
GOP freshmen press Boehner, Cantor for Holder contempt vote
From The Daily Caller: Six House Republican freshmen have written to Speaker of the House John Boehner and Majority Leader Eric Cantor demanding they bring a resolution holding Attorney General Eric Holder in contempt of Congress to the House floor for a vote as soon as possible. The members — Reps. Ben Quayle of Arizona, [...]
Brown state worker pay proposal would cut $230 million in wages from local economy
From Sac Bee: Despite a push to diversify its economy, the Sacramento region still depends heavily on government wages. The state employs roughly 75,000 workers in Sacramento County, excluding those working for its two college systems and the legislature. Collectively, they earned about $4.6 billion last year, far more than state workers in any other [...]
New UCSD leader’s salary draws fire: Base Pay of $411,000
From U-T San Diego: University of California Regents Wednesday confirmed the appointment of new UC San Diego Chancellor Pradeep Khosla and approved a base salary of $411,000 annually. His pay represents a 4.8 percent increase over the salary of the current chancellor, Marye Anne Fox, and is already drawing fire from critics who say UC [...]
A loan returns to haunt California’s budget
From LA Times: While politicians wring their hands over California’s nearly $16-billion deficit, much of the conversation has focused on low tax revenue, swelling spending and a mandated increase in school funding. But there’s another factor that’s weighing on the budget — a $2.1-billion repayment to local governments that the state is required to make [...]
Brown, in ‘management mode,’ chides those who oppose tax hikes on wealthy
From SJ Mercury: A day after releasing a revised budget that relies heavily on revenues from his not-yet-passed tax initiative, Gov. Jerry Brown chided those who oppose boosting taxes on the wealthy. The governor said he was in “management mode,” as in managing Democrats into making $8.3 billion in budget cuts to help wrestle a [...]
