Author: Michael Genest

Mr. Genest served for four years as Gov. Arnold Schwarzenegger's chief financial policy advisor in his role as Director of the California Department of Finance. Before joining Gov. Schwarzenegger's Administration, Mr. Genest was the Director of the California Senate Republican Fiscal Office. Mr. Genest currently is a co-founder of Capitol Matrix Consulting, which provides advice, analysis and advocacy on fiscal and policy issues affecting state and local government.

Is This the End of the World for California’s Budget?

May 8, 2020 8:05 amMay 8, 2020 8:32 am

California Governor Gavin Newsom just announced a $54 billion budget gap. That’s a two-year number comparable to the $60 billion gap that Gov. Arnold Schwarzenegger “solved” in 2009-2010. It represents about 26 percent of the total revenue projected for 2020-2021 in the budget released...