Which Way, L.A.?
Was California's Budget Too Optimistic? Will More Cuts Ensue?
Governor Brown's 2011-2012 budget was balanced on assumptions that aren't coming true. Also, a scathing audit accusing LACCD of misspending $140 million....
By Warren Olney • • 52m ListenGovernor Brown's budget for next year was balanced on assumptions that aren't coming true. Revenues for last month were so far below expectations that the state is already half way to triggering massive new cuts in spending. We hear from the Governor's office and from Controller John Chiang. Also, Controller Chiang issues a scathing audit accusing the LA Community College District of misspending $140 million. On our rebroadcast of today's To the Point, economics and high anxiety.
In this episode
3 storiesCA's Troubling Budget, LACCD's 'Shoddy Fiscal Mismanagement'
Governor Brown and the legislature balanced next year's budget based on projections of how much revenue will be coming in. If those projections are off by a billion dollars, massive cuts will be automatically triggered in higher education, healthcare and other services.
Read the story20 minMaking the Presidential Election a Popularity Contest
The Electoral College gives states the power to elect American Presidents. Because some states have more voters than others, some presidents have taken office without a majority of the vote nationwide.
Read the story6 minThe Personal Pinch of a Troubled Economy
The Great Recession wreaked havoc with the economy, and the slow recovery is producing headlines about a possible "double-dip." Americans have a right to be worried, and they are. How potent is psychology as a force for making things better or worse?
Read the story26 min
