Statement From Chris Hoene on the New LAO Forecast: “California Must Continue to Reinvest”

Yesterday, Chris Hoene, executive director of the California Budget Project, released the following statement in response to the new long-term fiscal forecast from the Legislative Analyst’s Office (LAO):

“The new budget forecast from the Legislative Analyst’s Office is encouraging on some key fronts, with the economy continuing to recover and the state regaining its financial footing. California’s public K-12 schools and its community colleges are expected to see additional dollars, both in the current budget year and looking ahead to 2015-16.

“We also see in this forecast that state policymakers have the opportunity to significantly rebuild support for other vital public services, while continuing to save for a rainy day and pay down state debts. Especially in light of a recovery that has failed to reach so many individuals and families, California must continue to reinvest in child care and preschool, the CSU and UC systems, support for low-income seniors and people with disabilities, and the other foundations of a strong economy and healthy communities.”

Statement From Chris Hoene on the New LAO Forecast: “A Critical Opportunity”

In response to the Legislative Analyst’s Office (LAO) long-term fiscal forecast released today, Chris Hoene, executive director of the California Budget Project, released the following statement:

“The new forecast from the Legislative Analyst’s Office shows a vastly improved fiscal picture for California. And this is a critical opportunity.

“With so many Californians still reeling from the impact of the Great Recession, policymakers should strive to increase investment in people and communities. Fiscal prudence is important and should be a key element of any budget agreement. But it shouldn’t come at the expense of boosting support for local economies and for vital public services and systems, especially after the severe budget cuts of recent years. State policymakers should be careful about putting away too much for a rainy day when, for many Californians, it’s raining now.”