The 2021-22 Budget: State Correctional Population Outlook [Publication Details]

Nov 19, 2020 - We also estimate that these population declines will substantially slow the expected growth in CDCR’s overall projected costs through 2024-25—partially through the closure of five prisons. This publication is part of our The 2021-22 Budget: California’s Fiscal Outlook series.
https://lao.ca.gov/Publications/Detail/4304

2021-22 Fiscal Outlook Economic Assumptions [EconTax Blog]

Nov 18, 2020 - Overall, we assume the economy will continue to recover gradually over the next several years, remaining below pre-pandemic levels for an extended period. Statewide employment is not expected to fully recover until 2025 or later.  
https://lao.ca.gov/LAOEconTax/Article/Detail/582

2021-22 Fiscal Outlook Revenue Estimates [EconTax Blog]

Nov 18, 2020 - We project annual SUT growth of 2.8 percent in 2022-23, accelerating to 4 percent in 2023-24 and 2024-25. SUT Forecast Higher Than Budget Act. In total, our SUT projections from 2019-20 through 2021-22 are $7.2 billion above the amount assumed in the Budget Act .
https://lao.ca.gov/LAOEconTax/Article/Detail/581

The 2021-22 Budget: California's Fiscal Outlook [Publication Details]

Nov 18, 2020 - However, the state also faces an operating deficit beginning in 2021-22 and throughout the outlook period, growing to $17 billion by 2024-25. Our analysis also finds it is quite unlikely for revenues to grow fast enough for the budget to break even and erase the operating deficit.
https://lao.ca.gov/Publications/Detail/4297

The 2021-22 Budget: Medi-Cal Fiscal Outlook [Publication Details]

Nov 18, 2020 - In this web post, we describe the major factors that we expect to drive changes in General Fund spending in Medi‑Cal over the near term—in 2020‑21 and 2021‑22—and over the longer term through 2024‑25.
https://lao.ca.gov/Publications/Detail/4299

The 2021-22 Budget: The Fiscal Outlook for Schools and Community Colleges [Publication Details]

Nov 18, 2020 - The 2021-22 Budget: The Fiscal Outlook for Schools and Community Colleges [Publication Details] The 2021-22 Budget: The Fiscal Outlook for Schools and Community Colleges Format: HTML Description: This report provides our fiscal outlook for schools and community colleges.
https://lao.ca.gov/Publications/Detail/4298

The 2021-22 Budget: California's Fiscal Outlook

Nov 18, 2020 - Meanwhile, General Fund expenditures under current law and policy grow at an average 4. 4  p ercent per year. The net result is that the state faces an operating deficit, which is relatively small in 2021 ‑22, but grows to around $ 17  b illion by 2024 ‑25 (see figure).
https://lao.ca.gov/Publications/Report/4297

The 2021-22 Budget: The Fiscal Outlook for Schools and Community Colleges

Nov 18, 2020 - Fourth, we examine how Proposition  98 funding could change through 2024 ‑25. Finally, we identify the amount of funding that would be available for new commitments in the upcoming year and describe some issues for the Legislature to consider as it prepares to allocate this funding. ( The 2021‑22 Budget: California’s Fiscal Outlook contains an
https://lao.ca.gov/Publications/Report/4298

The 2021-22 Budget: Medi-Cal Fiscal Outlook

Nov 18, 2020 - This results in significant year ‑over ‑year General Fund savings from 2022 ‑ 23 t o 2024 ‑25. Overall, we project caseload will decline by 5  p ercent annually from a high of 14. 8  m illion in 2021 ‑ 22 t o 12. 6  m illion in 2024 ‑25.
https://lao.ca.gov/Publications/Report/4299

U.S. Retail Sales Update: October 2020 [EconTax Blog]

Nov 17, 2020 - Monthly Sales Remained Higher Than Last Year. October was the sixth straight month of growth in U.S. retail sales and the fifth straight month in which sales were higher than last year. In particular, seasonally adjusted sales rose by 0.3 percent from September to October, making sales in October 2020 5.7 percent higher than sales in October 2019. 2020 ’s Ten-Month Total Nearly Equals 2019 ’s.
https://lao.ca.gov/LAOEconTax/Article/Detail/580