For the past seven years, the state spent more from the General Fund than its tax structure generated. To help cover the difference, the state borrowed from institutional investors. Should Californians be concerned? More broadly, how does debt fit into the annual budget debate? Evaluation of...

Passing a workable budget is so fundamental to governance that Californians can be forgiven their disappointments and search for “reform.” But change does not have to rely on voter-ratified constitutional proposals. The California legislature could improve budgets by changing its internal...

Governments frequently use financial incentives to encourage the creation, expansion, or relocation of businesses within their borders. Previous research on financial incentives have given little clarity as to what impact these incentives may have on the government. While incentives may draw in...