FROM Mimi Walters
The State Budget and Public Pension Reform Governor Brown has declared a stalemate on closing the $25 billion gap between state spending and revenue. He wants roughly half made up by spending cuts and the other half to be an extension of tax increases approved by the voters. Republicans won't give him the two-thirds vote required to put that on the ballot, but there might be a deal on public pension reform. The state's bipartisan Little Hoover Commission has concluded that underfunded pensions threaten both state and local governments. The Legislative Analyst , also bipartisan, agrees.
Candidates for State Treasurer Debate California's State Treasurer is a little-known officer who deals with a lot of money. He or she oversees a $70 billion investment account, issues billions bonds for public works projects and sits on governing boards and commissions. The incumbent is Democrat Bill Lockyer , who's been in the Assembly, led the State Senate and was Attorney General for eight years. He's running for re-election. His Republican challenger is State Senator Mimi Walters , who was an investment banker before serving the maximum three terms in the upper house in Sacramento.
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