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 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

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 2012-13 Budget: Overview of the Governor's Budget - Press Conference [Video]

The 2012-13 Budget: Overview of the Governor's Budget - Press Conference [Video] To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Press Conference January 11, 2012 California Legislative Analyst Mac Taylor talks with the media about his office 's report "The 2012-13 Budget: Overview of the Governor 's Budget. "
https://lao.ca.gov/Videos/Player?playlistId=13&videoId=70

The 2012-13 Budget: Overview of the Governor's Budget - The 2012-13 Budget: Overview of the Governor's Budget [Video]

The 2012-13 Budget: Overview of the Governor's Budget - The 2012-13 Budget: Overview of the Governor's Budget [Video] To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video The 2012-13 Budget: Overview of the Governor 's Budget January 11, 2012 Deputy Legislative Analyst Jason Sisney discusses the LAO 's report The 2012-13 Budget: Overview of the Governor 's Budget .
https://lao.ca.gov/Videos/Player?playlistId=13

The 2012-13 Budget: Overview of the Governor's Budget - Press Conference Question and Answer [Video]

The 2012-13 Budget: Overview of the Governor's Budget - Press Conference Question and Answer [Video] To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Press Conference Question and Answer January 11, 2012 California Legislative Analyst Mac Taylor answers questions from the media about his office 's report "The 2012-13 Budget: Overview of the Governor 's Budget. "
https://lao.ca.gov/Videos/Player?playlistId=13&videoId=71

The 2011-12 Budget: Overview of the Governor’s Budget Press Conference - The 2011-12 Budget: Overview of the Governor’s Budget [Video]

The 2011-12 Budget: Overview of the Governor’s Budget Press Conference - The 2011-12 Budget: Overview of the Governor’s Budget [Video] To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video The 2011-12 Budget: Overview of the Governor’s Budget January 12, 2011 Legislative Analyst Mac Taylor speaks with the media about the LAO 's report The 2011-12 Budget: Overview of the Governor ’s Budget.
https://lao.ca.gov/Videos/Player?playlistId=72

Highlights from our 2008-09 Analysis of the Budget Bill - Highlights from the LAO's 2008-09 Analysis of the Budget Bill [Video]

Highlights from our 2008-09 Analysis of the Budget Bill - Highlights from the LAO's 2008-09 Analysis of the Budget Bill [Video] To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video Highlights from the LAO 's 2008-09 Analysis of the Budget Bill February 20, 2008 Elizabeth Hill discusses highlights from the LAO 's 2008-09 Analysis of the Budget Bill and Perspectives and Issues.
https://lao.ca.gov/Videos/Player?playlistId=27

The 2012-13 Budget: Economic and Revenue Update - The 2012-13 Budget: Economic and Revenue Update [Video]

The 2012-13 Budget: Economic and Revenue Update - The 2012-13 Budget: Economic and Revenue Update [Video] To view this video please enable JavaScript, and consider upgrading to a web browser that supports HTML5 video The 2012-13 Budget: Economic and Revenue Update February 27, 2012 In this video, Deputy Legislative Analyst Jason Sisney, economists Justin Garosi and James
https://lao.ca.gov/Videos/Player?playlistId=50