Fears about California budget "valid", says state treasurer
Worries about over-optimistic assumptions contained in California's $86.6 billion budget are valid, says Sacramento-based state treasurer Bill Lockyer, speaking exclusively to Risk.
The budget was passed on October 8 after an all-night legislative session and a record 100-day delay. Although it goes some way towards addressing California's $19.3 billion deficit, commentators and rating agencies have expressed concern at its assumptions for future revenue.
In a note on October 18, analysts at New
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe
You are currently unable to print this content. Please contact info@risk.net to find out more.
You are currently unable to copy this content. Please contact info@risk.net to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@risk.net
More on Governments and agencies
Change of governance
Change of governance
Nuclear risks cloud Japan's economic outlook
The nuclear question
Sovereign risk weights under threat
Weight gain
Sovereigns wrestle with debt impact of CSAs
Kiss of debt
Tackling the Californian deficit
The state we're in
Roubini: Eurozone restructurings will leave bondholders facing losses
Government debt levels in peripheral Europe mean restructurings cannot be avoided, economist Nouriel Roubini tells Credit magazine.
