Commentary As 2022 is wrapping up, I thought I’d review some general trends in the news to see what California has in store for the new year. Becoming Bluer Democrats increased their single-party dominance over the state, picking up one seat each in the Assembly and state Senate. They did lose two seats from California…
California Becomes More Blue, and Other Trends Heading into 2023
December 30, 2022
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Report: Alaska’s Fiscal Health the Best in the Country
Alaska exited the COVID-19 pandemic with a financial surplus of $96,800 per taxpayer, snagging first place in an analysis of each state’s fiscal health. Alaska had a $41.5 billion tax surplus following 2021, according to financial watchdog Truth in Accounting. The group studied the most recent data from all 50 states’ 2021 annual comprehensive financial…
California Should Use Surplus to Establish a Sovereign Wealth Fund
Commentary The California legislature is trying to figure out what to do with the cornucopia of wealth from the expected $97.5 billion surplus for fiscal year 2022-23, which begins on July 1. Here’s a new idea to throw into the mix: Create a sovereign wealth fund. The Investopedia definition: “A sovereign wealth fund is a…
Putting California’s LAO Surplus Warning in Context
Commentary Catching up to my warnings on bad budget times ahead, despite the expected $45.7 billion surplus Gov. Gavin Newsom imagines, a recent report by the state Legislative Analyst’s Office cautions the state faces tough budget times ahead. This is in preparation for the budget wrangling that will begin in the Legislature in May. As I…
Australia’s Trade Surplus Surprises With Record High on Commodity Demand
SYDNEY—Australia’s trade surplus unexpectedly grew to a record in August as strength in liquefied natural gas and coal exports more than offset a pullback in iron ore prices, a windfall to mining profits and tax receipts. Figures from the Australian Bureau of Statistics out on Tuesday showed the surplus on international trade jumped to A$15.1…
Victorian Opposition Says State Budget Will Return to Surplus by 2026 if Elected
The Victorian opposition has pledged to bring the state budget back to surplus within five years if the Liberal and National coalition wins next year’s election. This announcement by shadow treasurer Louise Staley comes after the Andrews government announced a plan in November 2020 to overturn the COVID-19 induced economic downturn with an unprecedented $23.3…
Australia Sees Record High Trade Surplus Despite China’s Trade Sanctions
The Chinese regime’s trade war on Australia appears to be backfiring after strong demand for Australian exports have resulted in the nation recording its fourth-highest trade surplus. Preliminary international trade figures released by the Australian Bureau of Statistics (ABS) on Monday show Australia recorded a $9 billion goods trade surplus in December, up from $7.4…
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