The 2017-18 Budget: California Spending Plan

Oct 18, 2017 - The remaining $711  million supports anticipated spending increases from growth in the Medi ‑Cal program between 2016 ‑17 and 2017 ‑18. The budget package also provides up to $800  million in these revenues for increases in provider payments in 2018 ‑19, but these future amounts may be adjusted by the Department of Finance based on the state ’s fiscal condition.
https://lao.ca.gov/Publications/Report/3694/1

California’s Strong Revenue Trends Mask Looming Budget Risk

Jan 23, 2026 - After the dot-com bust and the Great Recession, it took four and five years, respectively, for revenues to recover. Incorporating revenue risk into the budget now, therefore, reflects prudence, not pessimism.
https://lao.ca.gov/Publications/Report/5104

The 2017-18 Budget: California Spending Plan

Oct 18, 2017 - The 2017-18 Budget: California Spending Plan Revenue dedicated to fund growth in existing Medi-Cal program $711 Total $1,257 a Physician and dental services provider payments could be increased to up to about $720 million in 2018-19 (bringing total 2018-19 Proposition 56 funding for increased provider payments to $800 million).
https://lao.ca.gov/Publications/Report/3694/6

The 2018-19 Budget: California Spending Plan (Final Version)

Oct 2, 2018 - This represents a decrease from the $ 711  m illion in Proposition   56 r evenue that offset General Fund spending in Medi ‑Cal in 2017 ‑18. The reduced Proposition  56 General Fund offset accounts for nearly $ 500  m illion of the year ‑over ‑year $2. 6  b illion increase in General Fund Medi ‑Cal spending between 2017 ‑18 and 2018 ‑19.
https://lao.ca.gov/Publications/Report/3870/6

The 2026-27 Budget: California's Fiscal Outlook

Nov 19, 2025 - For California, the dot ‑com era —when stocks rose and then fell precipitously in response to widespread adoption of the internet —offers the most salient example. The internet has proven to be a transformative technology and, yet, the stock market ’s initial reaction was clearly overly exuberant.
https://lao.ca.gov/Publications/Report/5091

Building Reserves to Prepare for a Recession

Mar 7, 2018 - By most measures, the recession of the early 1990s was more severe than the dot ‑com bust in the early 2000s. For example, unemployment in California reached 9. 7  p ercent in mid ‑ to late ‑1992, but peaked at 6. 9  p ercent after the dot ‑com bust.
https://lao.ca.gov/Publications/Report/3769

The 2023-24 California Spending Plan: Other Provisions

Nov 8, 2023 - Governor ’s Office of Planning and Research The budget provides the Governor ’s Office of Planning and Research (OPR) with roughly $1.1  billion in total funds (including $711  million from the Greenhouse Gas Reduction Fund, $378  million from the General Fund, and $29  million from federal funds) and 149.4 positions in 2023-24.
https://lao.ca.gov/Publications/Report/4814

Whether or Not to Tap Reserves to Solve Estimated Budget Problem Emerges as Key Fiscal Decision Facing California’s Legislature

Apr 19, 2023 - Other downturns, such as the 2001 so-called dot-com recession, had severe fiscal implications while inflicting somewhat milder economic damage. The 2008 Great Recession had brutal effects on both the state ’s economy and budget.
https://lao.ca.gov/Publications/Report/4762

The 2018-19 May Revision: LAO Economic Outlook

May 12, 2018 - The typical PE ratio since 1990 is 21 (19 if the dot-com bubble of the late 1990s and early 2000s is excluded). Similar to the price-to-earnings ratio, the home price-to-rent ratio is used to gauge if home prices are in line with underlying demand for housing.
https://lao.ca.gov/Publications/Report/3829

Rethinking California's Reserve Policy

Apr 10, 2025 - In March of 2004, on the heels of the dot ‑com bust, voters passed Proposition  58, which created the Budget Stabilization Account (BSA). In the 2006 ‑07 budget, the Legislature deposited $472  million into the BSA and in 2007 ‑08 deposited $1.5  billion.
https://lao.ca.gov/Publications/Report/5028