Changes, Constants, and Cycles in California Budgeting, with Gabe Petek

We converse on California's state budget with Gabe Petek, Legislative Analyst for the State of California. He explains California's dueling state budget deficit figures; why the current revenue shortfall is different than the 2008 recession; how much of California's budget woes are "structural" vs. "cyclical"; how he and Governor Newsom propose to address the budget deficit; why economic mobility matters to state budgeting; and how Gabe's prior life in Muniland shapes his views the Legislative Analyst's role, among many other topics. In Ripped from the Headlines, we discuss a story about how a new education program in Maryland is leading to large projected budget deficits over the next few years.