New America in California: Publications, Events and More

Olivia Calderon of the New America Foundation said New York found it successful in overcoming fears by the banks and the community in dealing with banks. "If you didn't grow up with a bank on your corner, it's not part of your everyday experience," ...

LOS ANGELES, CA - Los Angeles City Councilman Richard Alarcón today announced the launch of a Banking Development District Initiative in Los Angeles. The act was inspired by New York State's Banking Development District program and uses state and local deposits to encourage banks to open branches in lower-income neighborhoods and develop products and services tailored to local residents.    

To promote local economic development, California policymakers should create Banking Development Districts, a proven way to connect lower-income unbanked Californians with the financial products and services they need to enter the financial mainstream and begin to build savings and assets. It is modeled after New York State's successful Banking Development District program.

For the full text of the issue brief, please see the PDF attached below.

When it comes to American states, California has long been number one on many fronts. Now, it’s number one in fiscal crisis.

Like many states in the economic bust, California’s spending has drastically outstripped its income. It has the highest sales tax in the nation and some of the country’s highest state income taxes: 10.5 percent at a million dollars.

But it’s also staring at a $21 billion deficit, and its voters just said no to higher taxes. It may have to… more

IS California too big to fail?

That's the question President Obama and Congress will soon face. While many states have severe fiscal problems, the depth and unusual persistence of California's budget problems - the state has run deficits for most of the decade - has emptied Sacramento's till. On its current path, California will run short of the cash it needs to pay its bills in late July.

After passing the 2009-10 California state budget in February, lawmakers currently face an additional budget shortfall of $8 billion for the fiscal year, which could grow to $14 billion if ballot measures do not pass. The LAO has recommended that legislators act by no later than July to close this budget gap. The budget crisis we face is serious.  

Media Contact Liz Wu California Media Relations Manager 510-295-9859 wu@newamerica.net SACRAMENTO, CA - In the wake of Tuesday's record low voter turnout and the resounding defeat of five of six ballot measures proposed by the Legislature, the New America Foundation renewed its call for a fundamental overhaul of California's dysfunctional electoral system.

Yesterday, while voters were trashing his ballot measures, the Governor was at the Obama White House for a photo-op on the federal adoption of California’s mileage standards. This morning, he was still in Washington. But Schwarzenegger's favorability rating has plunged into the low 30’s and, after yesterday’s election, all he can do is pick up the pieces. Five ballot measures suffered resounding defeat, leaving the state with a deficit of $21 billion -- larger than the entire budgets of most… more

Joe Mathews, who writes a blog about direct democracy for the New America Foundation, noted that courts have vetoed many regulations on First Amendment grounds. He said that makes it unclear just how far states can go. In fact, opponents are now in federal court trying to undo Oregon's 2007 law requiring registration of petitioners. Original article

California provides more funding for stem cell research than the other 49 states combined. So what does President Obama's executive order lifting the restrictions financing and structure of the California Institute for Regenerative Medicine (CIRM), the state's cash-strapped stem cell agency?

Not much.

The special election is over. The griping is not.

Here's one pair of complaints airing more often than "Law & Order" reruns: Why does California keep having special elections? And why are we forced to digest so many measures on the same ballot?

Arnold Schwarzenegger has built his career on what might be called the Armageddon Tease.

In addition to Holdren, Loy and Chandler, the US delegation included Taiya Smith, a top aide to former Treasury Secretary Henry Paulson; Terry Tamminen, an environmental adviser to California Gov. Arnold Schwarzenegger (R); and Jim Green, an adviser to ...

Joe Mathews, a senior fellow at the New America Foundation, a nonpartisan think tank, called Tuesday's results a political "wipeout" for the governor. Original article

"There are these two countries that the world blames for doing nothing, and they have a better story to tell," said Terry Tamminen, who took part in the talks and is an environmental adviser to the governor of California, Arnold Schwarzenegger. ...

Maureen Cavanaugh: We just head from the San Diego County Registrar's Office that turnout is expected to be low for the special election tomorrow. And we've seen polls indicate that the people who do plan to vote may very well vote against most of the initiatives on the ballot.

At the same time, the governor, many elected officials, leaders in education, as well as heads of fire and police departments say it's desperately important to vote, and to vote yes on these initiatives to keep vital services going… more

California voters go to the polls Tuesday to vote on six ballot measures that are related to the state's budget. Most are expected to fail.  Joe Mathews comments on Gov. Schwarzennegger's gamble to balance California's budget. Link to audio

In less than 24 hours, you're going to be hearing the righteous indignation of all sorts of California pundits and policy types. They'll no doubt be shouting about an embarrassingly low turnout in Tuesday's statewide special election and the astounding ignorance on the part of those who did vote. Though not completely without merit, their rantings also will be part and parcel of the problem they're condemning: Our political elites are burdening the public with too much democracy.

As someone who drove a clattering old pickup in the slow lane for nine years, I watched with interest earlier this month as House Democrats reached a compromise on “cash for clunkers” legislation that would give people vouchers worth as much as $4,500 to replace their older cars with new ones. But the plan, which would cost $3.5 billion to $4.5 billion, is a huge disappointment; any program that expensive should deliver much better mileage.

However, former Schwarzenegger cabinet secretary Terry Tamminen said in an interview in Vancouver that small hydro projects may, like wind, qualify for a modest premium compared to conventional fossil-fuel-power electricity. That's in part because of ...