Budget cuts will maim state of California colleges and universities
From the 1960s to the 1990s the vocational training system in California was second to no one. People flocked to this impressive state so that their young people not only had admission to the K-12 system, but to a open university system that rivals the Ivy League.
The University of California system is a considerable player in the world of secondary education, however, with the fresh budget cuts – and the schemes for more – that may all be changing. This is a parody and will only work to tip the scales in the not right direction.
California’s public pensions need reform
Advocates of overhauling California’s problematic pension system for public employees could not have chosen a more providential moment to launch their reform campaign.
The enormous California Public Employees’ Retirement System is in deep financial doo-doo, having lost tens of billions of dollars in often-notional investments, and is telling state and local officials it going to need more ‘contributions.’ Meanwhile, investigations are under way into multimillion-dollar payments to placement agents who arranged some investments.
State Finance Directors Warn of More Cruxes Ahead
Short-time budget gaps have battered states as incomes plummeted while the retirement. Helped by about $250 billion in funds from the stimulus package expected through the end of next year, states managed to close the gaps this year. But both finance directors, speaking at a Pew Center on the States event in Washington, were pessimistic about their conditions’ following on the other side financial 2011