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4.08.2008

The Latest Sub Prime Mortgage Victim — Student Loans

As a result of the sub prime mortgage crisis and skittish lenders, the federal government is expected to declare Thursday that California’s Student Aid Commission will become the state’s lender of last resort for federal student loans.

The increasing reluctance of some private lenders to remain in the student loan market comes at the time applicants are receiving their letters of acceptance from colleges around the country. Read more »

2.04.2008

Health Cuts Hearing a Harbinger for Nasty Budget Battle

In a forestate of the ugly battle over California’s cash-strapped budget, a packed sente hearing room was told by more than 100 witnesses Monday afternoon that the Schwarzengger adminsitration’s proposed cuts in medical services to the poor would be devastating.

While no vote on the reductions was taken by the Senate Budget Committee, the back-and-forth between witnesses, lawmakers and the administration was a good indicator of how sides will align as the Legislature tries to meet a mandatory February 23 deadline set by the GOP governor to cut $872 million from the current year budget, nearly half from public school spending. Read more »

1.10.2008

Budget Schmudget

There isn’t going to be a whole lot of reporting here on the governor’s budget proposal until it starts being dissected by the Legislature, a process that will stretch out for – just a shot in the dark – at least six months.

The governor said in his speech he was submitting his $101 billion general fund spending blueprint to the Legislature whose responsibility is to muck with it. Read more »

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