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

Managing California’s Cash

Sep 3, 2019 - After a period of relative calm in the mid ‑ and late ‑1990s, California faced another series of years with acute budget problems following the dot ‑com bust and ensuing recession. Although the dot ‑com bust was relatively mild in economic terms, it hit the California budget —which is particularly reliant on the Bay Area ’s technology sector —especially hard.
https://lao.ca.gov/Publications/Report/4092

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

Fixing Unemployment Insurance

Dec 2, 2024 - For example, if California had entered the pandemic with equivalently sized reserves, it still would have required a federal loan, but that loan would have reached $9  billion, rather than $20  billion.
https://lao.ca.gov/Publications/Report/4943

The 2025-26 California Spending Plan: Other Provisions

Oct 16, 2025 - The budget includes provisional language authorizing the Department of Finance to augment State Emergency Telephone Number Account fund expenditure authority by amounts “necessary to continue implementation of the Next Generation 9-1-1 system, including transition from the legacy 9-1-1 system, ” subject to 30-day legislative notification.
https://lao.ca.gov/Publications/Report/5081

The 2025-26 Budget: Update on Implementation of New Firearm and Ammunition Tax

Feb 19, 2025 - For example, the 2024-25 budget eliminated $9  million in General Fund support for CalVIP beginning in 2025-26 due to the anticipation of GVPSS Fund monies being available to support the program instead.
https://lao.ca.gov/Publications/Report/4970

The 2020-21 Budget: Overview of the Governor's Budget

Jan 13, 2020 - The Governor ’s spending proposals also include $1. 6  b illion in ongoing spending, representing roughly a quarter of resources available. Because some of these ongoing proposals are phased in over a multiyear period, we estimate the cost at full implementation of these proposals is $1. 9  b illion annually. $300  Million in Other.
https://lao.ca.gov/Publications/Report/4135

The 2018-19 Budget: The Administration's Proposition 55 Estimates in the May Revision

May 22, 2018 - These are: (1) statutory cost ‑of ‑living adjustments, (2) chaptered legislation, (3) one ‑time expenditures, (4) the full ‑year costs of partial ‑year programs, (5) costs incurred pursuant to constitutional requirements, (6) federal mandates, (7) court ‑ordered mandates, (8) state employee merit salary adjustments, and (9) state agency operating expense and equipment cost adjustments to reflect price increases.
https://lao.ca.gov/Publications/Report/3844

The 2019-20 Budget: Overview of the Governor's Budget

Jan 14, 2019 - The Governor ’s budget includes an increase of $ 540   m illion ongoing General Fund for the universities —$ 300   m illion (7. 6   p ercent) for CSU and $ 240   m illion (6. 9   p ercent) for UC. Whereas the previous Governor favored giving the universities unrestricted increases and allowing them to determine funding priorities, the new administration takes a different approach by itemizing proposed funding increases.
https://lao.ca.gov/Publications/Report/3916

The 2018-19 May Revision: LAO Revenue Outlook

May 12, 2018 - We expect CT revenues in 2017-18 to be almost 9  percent higher than 2016-17. This increase primarily reflects two factors: (1) steady long-term growth in corporate profits, and (2) a reduction in the use of credits and net operating losses.
https://lao.ca.gov/Publications/Report/3830