Chris Hoene on the New Legislative Analyst’s Office (LAO) Forecast: “California Must Continue to Reinvest

FOR IMMEDIATE RELEASE

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 budget forecast from the Legislative Analyst’s Office is encouraging on some key fronts, with the economy continuing to recover and the state regaining its financial footing. California’s public K-12 schools and its community colleges are expected to see additional dollars, both in the current budget year and looking ahead to 2015-16.

“We also see in this forecast that state policymakers have the opportunity to significantly rebuild support for other vital public services, while continuing to save for a rainy day and pay down state debts. Especially in light of a recovery that has failed to reach so many individuals and families, California must continue to reinvest in child care and preschool, the CSU and UC systems, support for low-income seniors and people with disabilities, and the other foundations of a strong economy and healthy communities.”

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The California Budget Project (CBP) engages in independent fiscal and policy analysis and public education with the goal of improving public policies affecting the economic and social well-being of low- and middle-income Californians. Support for the CBP comes from foundation grants, subscriptions, and individual contributions. Please visit the CBP’s website at www.cbp.org.