Posts Tagged: funded

Public banking movement gaining traction in California

Historical building of Wells Fargo in San Francisco's financial district. Photo: Takako Hatayama-Phillips, via Shutterstock)

by SCOTT SORIANO posted 07.01.2021

San Francisco has taken its first major step toward establishing a public bank, and other California municipalities are also moving forward in exploring public banking, including a regional effort by cities and counties on the Central Coast. The California statute reportedly is adding fuel to a nationwide public banking effort.

Newsom recall unlikely — but simmering

Gov. Newsom at a 2019 briefing in Sacramento. (Photo: Associated Press)

by CHUCK McFADDEN posted 12.10.2020

A perfect storm of events is giving Gov. Gavin Newsom political headaches, and he is yet again the subject of a recall movement that claims to have already collected more than 800,000 signatures. It marks the sixth attempt by various Republicans to oust Newsom – the other five fizzled. Few veteran political observers give this one any chance of success, either, although California politics is full of surprises.

Medi-Cal faces major funding cuts

Doctors and nurses guide a young patient on a gurney down a hospital corridor. (Photo: Spotmatik LTD, via Shutterstock)

by JOHN HOWARD posted 03.22.2017

Billions of dollars for California’s health care system serving 13 million poor and young people would be slashed dramatically under a GOP-backed proposal in Congress supported by House Majority Leader Kevin McCarthy and other top Republicans.

For the new plan the state this fiscal year is paying $63.2 million (24.6 percent of pay) for the pensions of 1,407 judges (1,352 active). Judges Retirement System II is 95 percent funded with a debt or “unfunded liability” of $41.2 million.