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At 10 a.m. Monday, the ​​California State Senate Appropriations Committee will hold a hearing in Sacramento on Assembly Bill 1383, which would boost pension promises to certain government employees without requiring sufficient funds to be invested upfront to meet those promises. That would be a disaster.

Recently I participated in a public radio discussion in San Francisco about California’s state budget that was all too often handicapped by a stunning lack of knowledge.

Last Thursday, GFC delivered letters to the State Capitol from 337 members of the GFC Network opposing AB 1383, a bill that would boost pension promises to government employees without setting aside sufficient funds to meet those promises.

Consider a scenario where you serve as the CEO of a social services non-profit. Two decades ago, back in 2006, you committed to providing a $500,000 lump-sum retirement payout to a staff member in 2026.

The governor has spent eight budgets expanding California’s social safety net at a record pace. The money flows back to groups that help advance his political career.

Los Angeles’s capitalists have gone missing from political action. San Francisco offers a telling contrast: capitalist-backed lawmakers now dominate City Hall, and voters recently rejected a socialist revenue measure.

Have you noticed that the Service Employees International Union (SEIU) never backs tax measures that would send revenues directly to residents? SEIU only wants revenues to flow through governments that — you guessed it — pay SEIU members.

As Gavin Newsom enacts his final budget as governor, I have been looking at all eight of his budgets. The first post was about spending on employee compensation and benefits, which is the third largest category of state spending. The second post was about spending on public schools, which is the second largest category of state spending. The third post was about spending on Medi-Cal, which is the largest category of state spending. This post is about what happened to budget reserves under Newsom.

As Gavin Newsom prepares to sign his final budget as governor, I have been looking back at all of his budgets.

Now that the Legislature and Governor have finalized the 2026-27 budget, GFC will be taking some time off until the Legislature reconvenes August 3. Prepare for a very busy legislative and election season filled with dozens of bills, ballot measures and races about which GFC will have actions to recommend.