FROM Pat Macht
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.
The Trouble with CalPERS The California Public Employees Retirement System is the biggest thing of its kind in the country with $200 billion in assets. CalPERS, as it's called, has been a model for big investors and a champion of good corporate governance. Now its reputation is under assault because of big losses from bad investments and potential conflicts of interest. Today's Los Angeles Times reports that CalPERS continued doing business with two hedge fund advisors for two years after contracts had run out.
Replacing Obamacare: Now you see it… now you don’t As the Senate deliberates replacing Obmacare, health coverage for millions of people is at stake. There've been no public hearings, and a draft measure won't be made public. Is the House version so unpopular that that Senate is hiding a version that looks much the same?
The Trump agenda: where's the beef? President Trump says big things are happening. After celebrating a House bill on health care, he doesn’t yet have Senate agreement. With James Comey’s public testimony scheduled tomorrow, the President today tweeted his selection of a new FBI Director. Is the Chief Executive all style and no substance? Later, terror attacks in Iran and conflicting claims about who’s behind them.
Janesville and the American Dream Janesville, Wisconsin is the hometown of Republican House Speaker Paul Ryan. But he couldn’t prevent the closing of the General Motors factory after 100 years. On this Memorial Day rebroadcast of To the Point, we hear what’s happened to what once was a model of American middle-class unity.
Terrorism and tweets, hate speech and murder Just days before an election, Britain is coping with a rash of deadly terrorism, and Prime Minister Theresa May is on the defensive. And again today, President Trump has tweeted criticism of the Mayor of London. Later, a double murder in Portland, Oregon has revealed the ugly past of a supposedly “progressive” city. One immediate question: is “hate speech” protected by the First Amendment?