Fundamentals of CA Economy Strong, According to PPIC Report
Maureen Cavanaugh: With budget shortfalls, a climbing unemployment rate and the state issuing IOUs as payments, it certainly would be nice to hear something hopeful about the California economy. Well, the closest thing to hopeful we can get our hands on right now is a new report from the Public Policy Institute of California.
This analysis finds our state's long-term economic prospects to be fundamentally strong. And it finds that California's economy closely tracks the nation as a whole. So, there's no specific weakness in our economy that got us into the mess we're facing now.
The PPIC report provides a long-term view of the state's economic trends, and in the process dispels some myths about California's economy.