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The Venezuela Myth Keeping Us From Transforming Our Economy

The Venezuela Myth Keeping Us From Transforming Our Economy

    By Ellen Brown, http://EllenBrown.com Modern Monetary Theory (MMT) is getting significant media attention these days, after Alexandria Ocasio-Cortez said in an interview that it should “be a larger part of our conversation” when it comes to funding the Green New Deal. According to MMT, the government can spend what it needs without worrying about deficits. MMT expert […]

Watch out for the bond measures ahead — $503,000,000 just in Ventura County!

Watch out for the bond measures ahead — $503,000,000 just in Ventura County!

This June there likely will be 50 to 60 school and college bond measures on the ballot throughout the state. Under Proposition 39, education bonds can pass with the approval of only 55% of voters, not the higher two-thirds threshold for the approval of non-education measures. For this reason it’s important to be aware of proposed […]

For Nov. 8th: $32B in Local Borrowing, $2.9B in Local Tax Increases

For Nov. 8th: $32B in Local Borrowing, $2.9B in Local Tax Increases

New local taxes and new local borrowing are a regular phenomenon in California elections, but this year our government union controlled politicians have outdone themselves. Let’s compare: November 2014 – $11 billion in new borrowing proposed via 118 local bond measures, 81% passed. Of the 117 local proposals for new taxes, 68% passed. June 2016 […]

Rating Agency Increases California’s Bond Rating To “High Grade”

Rating Agency Increases California’s Bond Rating To “High Grade”

The Upgrade By Fitch Is Sign of Confidence In State’s Fiscal Management California’s credit rating is heading up. Fitch Ratings Inc., one of three leading rating agencies, today announced that the Golden State’s general obligation debt now enjoys an AA- classification. The upgrade places our bonds in the coveted “high grade” category. The move by […]

The Stadium Welfairy Tale

The Stadium Welfairy Tale

. . By Thomas L. Knapp Most fairy tales begin “once upon a time, in a land far, far away.” The American sports industry’s fairy tale begins “all the time, right here.” Apart from that, though, it’s very similar to other fairy tales in that no sensible adult really believes the main elements of the […]

Treasurer Unveils Open Data Website Detailing $1.5 Trillion in Government Debt

Treasurer Unveils Open Data Website Detailing $1.5 Trillion in Government Debt

DebtWatch Makes Government Borrowing More Transparent State Treasurer John Chiang unveiled a new open data website today, providing important details about $1.5 trillion in debt issued by state and local government entities as part of his ongoing efforts to promote transparency in government. The site,  debtwatch.treasurer.ca.gov, makes it easier for taxpayers to track proposed and […]

State Treasurer refinances state bond debt, saves taxpayers $270 million

State Treasurer refinances state bond debt, saves taxpayers $270 million

. The State of California has found a way to save $270 million — without budget cuts or raising taxes. State Treasurer John Chiang recently announced that his office had completed the sale of $1.93 billion in general obligation bonds, which will deliver hundreds of millions of dollars of savings to taxpayers. Like homeowners refinancing […]