In case you hadn’t noticed, we gave readers a lengthy respite from our missives while the Legislature and Governor negotiated the budget for the fiscal year starting July 1. Through June 10 we had supplied legislators and reporters with several notes describing the need to dramatically boost budget reserves.

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The first sentence of Multi-Year Budget Outlook published recently by California’s Legislative Analyst’s Office comes with an important disclaimer [emphasis added]:

This report presents our office’s independent assessment of the condition of the state General Fund budget through 2024‑25 assuming the economy continues to grow.

With that assumption in mind…

Dear Legislators,

With your deliberations over the 2021–22 Budget, you are about to make a most consequential decision. Below is a chart of General Fund Revenues and Transfers from the beginning of the last decade. The blue columns are closed fiscal years. The green column is for the current fiscal…

David Crane

Lecturer at Stanford University and president of Govern For California

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