An oil pump at work in Kern County. (Photo: Ronnie Chua, via Shutterstock)OPINION: Gov. Newsom promised accelerated action on climate change. We’re still waiting.
Standing in the ashes of a forest ravaged by California’s worst-ever fire season, Gov. Newsom proclaimed last fall that our state was experiencing a “climate damn emergency,” and promised to accelerate climate efforts “across the entire spectrum.”
Gov. Brown on Jan. 9 in the state Capitol as he unveiled his 2015-16 draft budget. Brown's budget includes the newly approved "rainy day fund."(Photo: AP/Rich Pedroncelli)California’s economy may not be booming, but it is definitely on the mend. The Bay Area is churning out high-tech profits and high-wage jobs. In other parts of the state, unemployment is inching down toward full-employment levels. And as always when California’s economy improves, tax revenues are soaring. With an income tax system highly dependent on the wealthy and their investment income, the state treasury typically sees a windfall whenever times are good.
Calpensions: In a few years CalPERS retirees are expected to outnumber active workers, a national trend among public pension funds that makes them more vulnerable to big employer rate increases. The growing number of retirees, partly due to aging baby boomers, is one reason a staff report last week argues that CalPERS has too much “risk.”