Economy

Are the Newsom administration’s dismal recession prognostications a reasonable outlier — or “preposterously negative” and a  “poker bluff” aimed at ratcheting up pressure for a financial assist from the feds?

Gov. Gavin Newsom's proposed cuts to meet the new coronavirus economy include two California day programs aimed at keeping poor and medically fragile seniors in their homes, and out of institutions.

Looser rules mean 53 of California's counties qualify to reopen stores and restaurants — but they will need to prepare for new outbreaks. 

Earlier this year, Gov. Gavin Newsom had proposed expanding the state's health coverage program to reach more people. Then along came the coronavirus, and the Medi-Cal cuts began anew.

In trying to bridge a $54 billion deficit, Gov. Gavin Newsom said Congress could wield great power to stave off painful cuts to schools, health care and safety-net programs. He announced trigger cuts absent additional federal stimulus. 

One plan would give tenant 10 years to repay missed payments; separate bill would allow homeowners to postpone mortgage, auto loan bills for nearly a year.

State regulators propose emergency powers to shut down bars and restaurants that defy public health orders banning dine-in services during the coronavirus pandemic. 

For local governments still sporting the budgetary scars of the last “once in a generation” recession, this downturn is at once familiar — forcing elected leaders to cut, furlough and delay — and entirely new. Never before in state history has so much economic activity ground to a halt so quickly.

Local governments across California have seen their budgets gutted by the pandemic-induced recession, but they aren’t likely to have much luck turning to voters for a handout. A new Public Policy Institute of California poll found that voters are not in a giving mood when it comes to new bond and tax measures. That follows […]

California faces an unprecedented $54.3 billion deficit. Finance officials announce the unemployment rate could reach 18%, worse than the Great Recession. Schools, health care and safety-net programs face devastating cuts as state and local officials seek additional federal stimulus.