Resolving California’s Budget Crisis: Lessons from a New Six-State Study

Lenny Mendonca, Member, California Forward Leadership Council; Director, McKinsey and Company
George Shultz, Former U.S. Secretary of State and U.S. Secretary of Labor; Member,  Advisory Board on the State Budget Crisis
David Crane, Former Special Advisor to California Governor Arnold Schwarzenegger; Member,  Advisory Board on the State Budget Crisis
Karol Denniston, Partner,  Schiff Hardin LLP's Municipal Restructuring Practice; Instrumental in Passage of California Assembly Bill 506 (Requiring Neutral Evaluation before Municipalities File for Bankruptcy)
Randy Shandobil, UC Berkeley Graduate School of Journalism; Former Political Reporter, KTVU Television - Moderator

State budgets seem more and more unmanageable, but there are lessons to be learned from studying their flaws. Come hear the results of the first-ever comprehensive review of the specific threats to near- and long-term fiscal sustainability in six states: California, Illinois, New Jersey, New York, Texas and Virginia. The study reveals the ways in which budget procedures and accounting rules encourage structural budget gaps. The report questions how states will be able to restore the services and jobs that they cut during the downturn, saying that the loss of jobs in prisons, hospitals, courts and agencies had been more severe than in any of the past nine recessions. Come learn what this report's findings mean for California's fiscal future, and the nation's.

Location: SF Club Office
Time: 11:30 a.m. check-in, noon program
Cost: $20 standard, $12 members, $7 students (with valid ID)
Also know: In association with California Forward