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California may or may not be in a recession. But how would you know — and why should you care? You’ll know and care because if the economy shrinks dramatically and for an extended period of ...
With a potential recession looming, California faces an estimated $25-billion deficit. Lower spending on transportation, housing and education could help close the gap.
“This decline is similar to those seen during the Great Recession and dot-com bust,” according to the Legislative Analyst’s Office. California’s revenue decline is reminiscent of the Great ...
News reports and commentators have cited the state's various legislative supermajority requirements as a contributing factor to the state budget crisis. [23] [24] The state has a long history of supermajority requirements with a 1933 state ballot measure mandating a two-thirds supermajority to pass the state budget and California Proposition 13 (1978) mandating another two-thirds supermajority ...
The Sahm rule signals the early stages (onset) of a recession and generated only two false positive recession alerts since the year 1959 (there have been 11 recessions since 1950); in both instances — in 1959 and 1969 — it was just a little untimely, with the recession warning appearing a few months before a slide in the U.S. economy began ...
Official economic data shows that a substantial number of nations were in recession as of early 2009. The US entered a recession at the end of 2007, [185] and 2008 saw many other nations follow suit. The US recession of 2007 ended in June 2009 [186] as the nation entered the current economic recovery.
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[29]: 1 [23]: 1 [30]: 1 (For California as a whole, from 2011 to 2016, the state added only one new housing unit for every five new residents.) [14]: 1 This has driven home prices and rents to high levels, such that by 2017, the median price of a home across California was more than 2.5 times the median in the U.S. as a whole, and in California ...