The Sacramento Bee reports that at $21 Billion deficit has been estimated for California over the next year and a half. This is due largely to failed predictions about the success of the newest budget plan. The governor has begun discussions surrounding further budget cuts and possible tax increases.

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As this article from FoxNews.com describes, liberal legislative practices have left California in shambles with astronomical taxes and a hemorrhaging state budget. However, it wasn't always like this. At one point, conservative legislative practices like those that passed Prop. 13 were responsible for growing California to be one of the strongest economies in the world. Now, conservatives have a prime opportunity to take the state back and grow it to the power it once was.  Read more >>

In this comprehensive update on California's financial status, the writer makes it clear that the state is still in a steep decline. It shows how reforms, which could have fixed this have no way of being passed in California's interest group-controlled legislature. With businesses and employees leaving the state in droves, things are continuing to look worse instead of better.

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This editorial in the Sacramento Bee explains how lavish pension plans, which require high-risk investments are at the root of CalPERS' budget crisis. Legislators have finally proposed two measures to cut this pension spending dramatically. The governor has yet to release his position on these measures.

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As this article in the Sacramento Bee explains, CalPERS is doing everything it can to avoid cuts to its funding including a "smoothing" plan, which will shift its deficit to taxpayers over the next 30 years. As the article concludes, what really needs to happen is a top-to-bottom review of the public pension system to stop this money hemorrhaging once and for all.

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