CA EVENT: What Happens When California's Cash Runs Out?

It's all but certain that the state government will run out of money this year, perhaps as early as February. Even if the legislature and governor somehow reach an agreement on budget cuts or tax increases, any solution likely will come too late to prevent a cash crunch. This is uncharted territory for California. What happens if the state goes broke? A panel of California’s top fiscal and economic experts — including State Controller John Chiang, New America Foundation Senior Scholar Mark Paul and Peter Taylor of Barclays Capital  — visit Zócalo to discuss how this quasi-bankruptcy will impact schools and public services, and what long-term damage the state might suffer.

For the full video and audio, please go to the Zocalo website.

This event was co-sponsored with Zócalo.

Participants

• Joe Matthews
  Irvine Senior Fellow
  New America Foundation