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Report

California's Geography of Wealth

September 5, 2019 - California is the wealthiest state in the nation. Despite this overall prosperity, wealth varies considerably across the state and its residents. The concentration of wealth among a small number of very wealthy individuals and households has been the topic of much research and commentary in recent years. Perhaps less discussed is the similarly uneven geographical distribution of wealth. This publication provides a short introduction to the geography of wealth in California.

Report

The Great Recession and California's Recovery

December 13, 2018 - Nearly ten years ago today, Governor Schwarzenegger's proposed budget for the upcoming fiscal year projected a $42 billion deficit. This shortfall was stunning, but in fact, turned out to be optimistic. In the months that followed, the Governor released three more budget projections, each one addressing even larger shortfalls. California was called "ungovernable," "a wreck," and "a failed state."

Today, California's fiscal position is dramatically different. While the budget still faces challenges, the state has made undeniable progress: the Legislature has enacted budgets that consistently increased savings, addressed many of the state's outstanding debts, and most recently passed a budget with a higher level of reserves than the state has seen in decades. Few could have predicted this turnaround.

So how did the state achieve this feat? This visual guide to the Great Recession and California's recovery tells the story of the budget over the last ten years.