Fiscal Affairs
State Budget, Infrastructure Investment and the Economy
News, Analysis and Resources
Looking Beyond the Horizon
Investment Planning for the 21st Century
California's elected leaders should:
- Lengthen the State's fiscal planning sights
- Consider the "right" amount of debt a policy choice, not a number
- Treat infrastructure as a competing budget priority, along with programs and services
- Shore up the State's fiscal house -- now
The 2007 Debt Affordability Report, provides an in-depth look at how much investment California needs, how much we believe it will cost to finance that investment, and what our state can do to make it affordable. The central message: The people of California can afford the future we want if we start making smart financial decisions now.
News From the Treasurer
- Treasurer Lockyer Comments on the Legislature’s Failure to Enact a Budget Plan
November 25, 2008 - Treasurer Lockyer, Other CA Officials Call for Federal Reserve Action to Fix Bond Market
November 21, 2008 - Treasurer Lockyer Issues Statement on Budget
November 6, 2008 - Treasurer Lockyer Announces Successful Completion of $5 Billion Transaction to Meet State's Cash Flow Needs
October 16, 2008 - Treasurer Lockyer Urges Congress to Adopt Economic Recovery Plan to Thaw Market for Infrastructure Bonds, Cash-Flow Borrowing
October 1, 2008 - Treasurer Lockyer Comments on Plan to End State Budget Stalemate
September 19, 2008 - State Treasurer Lockyer Comments on Governor’s Revised 2008-09 State Budget Plan
May 14, 2008 - State Treasurer Bill Lockyer's statement on the LAO’s analysis of the Governor’s 2008-09 Budget
February 20, 2008 - California State Treasurer Visits UC Davis Bill Lockyer speaks about UC and state budget in 2008
Thuy Tran
California Aggie, January 31, 2008 - Treasurer Lockyer Comments on Governor’s State Spending Plan for Fiscal 2008-09
January 10, 2008 - Treasurer Lockyer Comments on Governor's State of the State Speech
January 8, 2008 - Budget message from State Treasurer Bill Lockyer
December 14, 2007 - Treasurer Lockyer Comments on Fiscal Projections by Legislative Analyst’s Office
November 14, 2007 - Open Forum on California's Future, Time to Take Action
Bill Lockyer
San Francisco Chronicle, October 21, 2007 - Treasurer Lockyer Issues Report on State Debt That Takes 20-Year Look at Budget and Calls for Action Now to Fix Deficit
October 1, 2007
Budget
- Dems propose simple majority to OK budget
Matthew Yi
San Francisco Chronicle; December 4, 2008 - Schwarzenegger: Federal Aid Request No Bailout
Kevin Yamamura
Sacramento Bee; December 4, 2008 - Will These Tax Proposals Fix $28 Billion Budget Hole?
Brian Joseph
Orange County Register; December 3, 2008 - Stimulus Plan Laudable But Not A Quick Budget Fix
Judy Lin, Associated Press
Sacramento Bee; December 3, 2008 - Sacramento Tackles Budget Mess Again
Editorial
Los Angeles Daily News; December 3, 2008 - Bailout Bug Hits Some States, Not Others
Editorial
Orange County Register; December 3, 2008
Economy
- Over 1 Million Layoffs
Tom Abate
San Francisco Chronicle; December 5, 2008 - Calls for $1 Trillion Stimulus Package Grow as Economy Tumbles
Rich Miller and Matt Benjamin
Bloomberg; December 4, 2008 - Fed Says Economy Weakened in All Regions Since Mid-October on Credit Woes
Scott Lanman
Bloomberg; December 3, 2008 - U.S. May Be in for ‘Great Recession,’ Longest Postwar
By Steve Matthews and Timothy R. Homan
Bloomberg; December 2, 2008 - U.S. Recession could Last Until 2010
Maura Reynolds
Wall Street Journal; December 2, 2008 - Economic Signs Point to Longer, Deeper Recession
Neil Irwin
Washington Post; December 2, 2008
Publications
- An Economic Backdrop for Fiscal Reform in California
Christopher Thornberg, Jon Haveman
Beacon Economics for California Forward; November, 2008 - Recession Could Push Millions into Deep Poverty
Sharon Parrott, Center on Budget and Policy Priorities; November 24, 2008 - Fiscal Outlook, LAO Projections 2008-09 Through 2013-14
Mac Taylor, Legislative Analyst; November 2008 - Overview of the Governor's Special Session Proposals
Legislative Analyst Mac Taylor; November 11, 2008 - Energy Efficiency, Innovation, and Job Creation in California
David Roland-Holst
Center for Energy, Resources, and Economic Sustainability (CERES); October 2008 - Summary of Commentary on Current Economic Conditions by Federal Reserve District
Federal Reserve Beige Book; October 15, 2008 - The Economic Bailout: An Analysis of the Economic Emergency Stabilization Act
Katalina M. Bianco, J.D., John M. Pachkowski, J.D., CCH - Wolters Kluwer Law & Business
October 7, 2008 - Federal Reserve Board Announcement on Creation Commercial Paper Funding Facility
Federal Reserve Board; October 7, 2008 - Overview of the 2007-2008 May Revision Summary
Legislative Analyst Office; May 19, 2008 - The Department of the Treasury Blueprint for a Modernized Financial Regulatory Structure
Henry M. Paulson, Jr.; Secretary
March 2008 - Highlights of the LAO's analysis of the Governor's 2008-09 budget
Legislative Analyst Liz Hill, February 20, 2008 - State and Local Governments: Growing Fiscal Challenges Will Emerge during the Next 10 Years
GAO-08-317, January 22, 2008 - Summary of Commentary on Current Economic Conditions
by Federal Reserve District, January 16, 2008 - CA Budget Project "quick and dirty" summary of key provisions in the Governor's 2008-09 proposed budget
- 2008-09 Governor's Proposed Budget
- Highlights of Governor's Proposal for the Special Session Fiscal Emergency & 2008-09 State Budget
John Laird; Chair, Assembly Budget Committee - Is California No Longer a High Job Growth State?
Center for Continuing Study of the California Economy, December 2007 - California's Fiscal Outlook, LAO Projections 2007-2008 Through 20012-13
Elizabeth Hill, Legislative Analyst, November 14, 2007 - 2007 Debt Affordability Report
Bill Lockyer, California State Treasurer, October 2007 - Privatization vs. Public-Private Partnerships: A Comparative Analysis
Issue Brief, California Debt and Investment Advisory Commission, August 2007
Other Helpful Sites
- California Budget Project
- California Debt and Investment Advisory Commission
- Center for Continuing Study of the California Economy
- Department of Finance/State Budget Page
- Economic Indicators
- Legislative Analyst 's Office
- Public Policy Institute of California
- State Controller's Office Monthly Cash Statements
- U.S. House Education and Labor Committee
- Federal Reserve Board
- National Bureau of Economic Research



