Understanding California's Recent Financial Deficit

Discover the unexpected fiscal twists and turns as California confronts its financial future, with insights from Steve Malanga of the Manhattan Institute and ex-Orange County Treasurer John Moorlach. As your guides, we, Marshall Toplansky and Joel Kotkin, promise to lead you through a landscape shaped by COVID-19 aftershocks, federal aid windfalls, and the intricate dance of managing state budgets and pension reforms. Prepare to be enlightened by our conversation on the surprising surpluses, the stark reality of tax collection downturns, and the resilience—or vulnerability—of California's fiscal policies.The Golden State's pension reforms under Governor Jerry Brown mark a significant crossroads for new University of California faculty: a traditional defined benefit plan or a trailblazing defined contribution plan? We weigh the pros and cons, dissecting the allure of portability and flexibility against the backdrop of union resistance and entrenched preferences for traditional plans. With the Manhattan Institute's research in hand, we scrutinize the true value of defined benefit plans, especially for educators prone to career shifts. Join us in this critical dialogue on the financial choices and challenges that will shape California's trajectory for years to come.Support Our WorkThe Center for Demographics and Policy focuses on research and analysis of global, national, and regional demographic trends and explores policies that might produce favorable demographic results over time. It involves Chapman students in demographic research under the supervision of the Center’s senior staff.Students work with the Center’s director and engage in research that will serve them well as they look to develop their careers in business, the social sciences, and the arts. Students also have access to our advisory board, which includes distinguished Chapman faculty and major demographic scholars from across the country and the world.For additional information, please contact Mahnaz Asghari, Associate Director for the Center for Demographics and Policy, at (714) 744-7635 or [email protected] us on LinkedIn:https://www.linkedin.com/company/the-feudal-future-podcast/Tweet thoughts: @joelkotkin, @mtoplansky, #FeudalFuture #BeyondFeudalism #centerfordemographicspolicy #chapmanuniversityLearn more about Joel's book 'The Coming of Neo-Feudalism': https://amzn.to/3a1VV87Sign Up For News & Alerts: http://joelkotkin.com/#subscribeThis show is presented by the Chapman Center for Demographics and Policy, which focuses on research and analysis of global, national and regional demographic trends and explores policies that might produce favorable demographic results ov...