California Common Sense in the news.
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Detroit holds clues for fixes for other big cities
Wall Street Journal - MarketWatch on Jul 24, 2013
So far, the major cities plagued by exploding retirement costs have done exactly what everyone thought they would — raise taxes, squeeze some public services, employ accounting gimmicks, and shovel billions more into their pension funds. They passively made the decision to pay up and let retirement costs soar to absurdly high proportions of their budgets that would never be tolerated in other line items. In Los Angeles, pensions grew 25% annually the last decade, according to a report from the group California Common Sense. Public works, by contrast, grew 1.6%. The sacrifice-for-pensions model is becoming more visible in human terms.
L.A.'s saving grace: It's not Detroit
L.A. Observed on Jul 18, 2013
The result is that an increasing portion of the budget pie - money that should be going towards operating basic city services - is instead going towards pensions (California Common Sense laid out the problem in a report earlier this year). That's not a Detroit-like mess, but it's messy enough.
Pension Update July 15, 2013
State Budget Solutions on Jul 15, 2013
California Common Sense releases study pointing out that state's unfunded retirement liability has increased 5% since February - now $222.2 billion up from $211.4 billion five months ago.
High-speed (rail) politics: Fact and Opinion Part 2
San Francisco Examiner on Jul 14, 2013
California Common Sense states a conservative estimate even with the blended system (shared infrastructure with existing transit systems) with debt service the HSR service will cost closer to $203 billion.
With Palo Alto on Board, OpenGov Aims for Transparency in Dozens More City Governments
Wall Street Journal on Jul 11, 2013
The founders of OpenGov are well familiar with the problems and opportunities of using technology for government transparency through their work at California Common Sense, a nonprofit they had founded and run.
Fresh evidence that Jerry Brown’s pension fix fixed little
Cal Watchdog on Jul 10, 2013
CalPERS will post 500,000 pensioners’ info online
BenefitsPro on Jul 9, 2013
A recent study from California Common Sense, a non-partisan watchdog group, pegs California’s major retirement systems unfunded pension liability at $222.2 billion, a 5 percent increase in the last four months. This figure has almost doubled from $110 billion in 2007-2008. CalPERS makes up a big chunk of this public pension system, which also includes the California State Teachers’ Retirement System, the University of California Retirement System and other smaller entities.
Study: State's pension debt spiked since February
Sacramento Business Journal on Jul 8, 2013
The governor generally has received praise for his role in erasing the state’s seemingly perpetual budget deficits. Brown has been featured in the New York Times, the Atlantic and also by Real Clear Politics, a wonky online news site. But California Common Sense, a nonprofit and nonpartisan watchdog group, recently released a study pointing out that despite glowing reviews for Brown’s 2013-2014 budget — which predicts a $1.7 billion general fund surplus — the state’s unfunded retirement liability has increased 5 percent since February.
Despite Higher Revenues, Debt and Rising Health Costs Threaten California Services
Fox and Hound Daily on Jul 8, 2013
California's Skeleton in the Closet
Bloomberg TV on Jul 2, 2013
City Journal's Steve Malanga and California Common Sense's Autumn Carter discuss the states finances with Trish Regan on Bloomberg Television's "Street Smart."