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.”