Economics

Bay Area Budgeting 3

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Bay Area Budgeting 2

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Bay Area Budgeting 1

News Analysis: California’s $54-Billion Deficit Fueled by Coronavirus Will Test a Decade of Preparations (John Myers, Los Angeles Times, May 14, 2020)

California Cut Schools and Raised Taxes in Its Last Recession. What Will Newsom Do Now? (Sacramento Bee, May 13, 2020)
BART Seeks Further Federal Funding to Address Deficit: "Our Budget Is Deep in the Red" (SFGATE, May 12, 2020)

Bay Area Cities Face Grim Financial Outlook amid Budget Slashing. Here’s What They Are Planning to Cut (San Francisco Chronicle, May 10, 2020)

California Is Reckoning With Its Huge Budget Deficits (Ed Kilgore at New York Magazine, May 7, 2020)

Here’s How a $54 Billion Deficit Will Hurt Californians (Calmatters.org, May 7, 2020)

California Lawmakers Set to Return Monday as Coronavirus Lingers (KTLA.com, May 3, 2020)

CalMatters Commentary: State Budget Will Take a Very Big Hit from Coronavirus (Ventura County Star, May 3, 2020)

We Surveyed the "Rainy day" Funds of 6 States to See How Prepared They Were for a Major Emergency. The Results Paint a Grim Picture for the Country's Economic Recovery (Business Insider, May 2, 2020)

California Governor: Expect Budget Gap in "Tens of Billions" (Bloomberg, May 1, 2020)

Coronavirus: Alameda County Finances to Suffer because of Pandemic (East Bay Times, May 1, 2020)

Opinion: City and State Auditors Warn of Oakland's Financial Peril and Mismanagement (Oakland Post, April 30, 2020)

Tough Times for Oakland as Coronavirus Outbreak Blows Giant Hole in Budget (San Francisco Chronicle, April 26, 2020)

Bay Area Braces for Budget Deficits as Coronavirus Dries Up Local Tax Dollars (KQED.org, April 24, 2020)

Coronavirus Prompts California Cities To Project 2-Year Losses Of $6.7 Billion (CBSN Bay Area, April 24, 2020)

Looming Budget Crisis "Like Nothing Oakland Has Ever Before Experienced" (Berkeleyside, April 21, 2020)

Coronavirus: East Bay Cities Bracing for Financial Hit as They Prepare Budgets (San Jose Mercury News, April 21, 2020)

Coronavirus: Financial Crisis for School Districts in Alameda Co. (Alameda, CA Patch, 4/20/2020)

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Some People at Stanford

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Some People at UC-Berkeley

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Moby-Duck

Moby-Duck toys

At the beginning of the war, two British chemists, V. E. Yarsley and E. G. Couzens, prophesied with surprising accuracy and quaintly utopian innocence what middle-class childhood in the 1970s would be like. “Let us try to imagine a dweller in the ‘Plastic Age,’” they wrote in the British magazine Science Digest.

This creature of our imagination, this ‘Plastic Man,’ will come into a world of colour and bright shining surfaces, where childish hands find nothing to break, no sharp edges or corners to cut or graze, no crevices to harbour dirt or germs, because, being a child his parents will see to it that he is surrounded on every side by this tough, safe, clean material which human thought has created. The walls of his nursery, all the articles of his bath and certain other necessities of his small life, all his toys, his cot, the moulded perambulator in which he takes the air, the teething ring he bites, the unbreakable bottle he feeds from . . . all will be plastic, brightly self-coloured and patterned with every design likely to please his childish mind.

Here, then, is one of the meanings of the duck. It represents this vision of childhood—the hygienic childhood, the safe childhood, the brightly colored childhood, in which everything, even bathtub articles, have been designed to please the childish mind, much as the golden fruit in that most famous origin myth of paradise “was pleasant to the eyes” of childish Eve. Yarsley and Couzens go on to imagine the rest of Plastic Man’s life, and it is remarkable how little his adulthood differs from his childhood. When he grows up, Plastic Man will live in a house furnished with “beautiful, transparent, glass-like materials in every imaginable form,” he will play with plastic toys (tennis rackets and fishing tackle), he will, “like a magician,” be able to make “what he wants.” And yet there is one imperfection, one run in this nylon dream. Plastic might make the pleasures of childhood last forever, but it could not make Plastic Man immortal. When he dies, he will sink “into his grave hygienically enclosed in a plastic coffin.” The image must have been unsettling, even in 1941; that hygienically enclosed death too reminiscent of the hygienically enclosed life that preceded it. To banish the image of that plastic coffin from their readers’ thoughts, the utopian chemists inject a little more technicolor resin
into their closing sentences. When “the dust and smoke” of war had cleared, plastic would deliver us “from moth and rust” into a world “full of colour . . . a new, brighter, cleaner, more beautiful world.”

-- Donovan Hohn, "Moby-Duck, or, the Synthetic Wilderness of Childhood," Harper's Magazine, January 2007.

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The Point of No Return

Eric Holthaus, "The Point of No Return: Climate Change Nightmares Are Already Here," Rolling Stone, August 5, 2013.

On July 20th, James Hansen, the former NASA climatologist who brought climate change to the public's attention in the summer of 1988, issued a bombshell: He and a team of climate scientists had identified a newly important feedback mechanism off the coast of Antarctica that suggests mean sea levels could rise 10 times faster than previously predicted: 10 feet by 2065. The authors included this chilling warning: If emissions aren't cut, "We conclude that multi-meter sea-level rise would become practically unavoidable. Social disruption and economic consequences of such large sea-level rise could be devastating. It is not difficult to imagine that conflicts arising from forced migrations and economic collapse might make the planet ungovernable, threatening the fabric of civilization" . . . .

James Hansen, the dean of climate scientists, retired from NASA in 2013 to become a climate activist. But for all the gloom of the report he just put his name to, Hansen is actually somewhat hopeful. That's because he knows that climate change has a straightforward solution: End fossil-fuel use as quickly as possible. If tomorrow, the leaders of the United States and China would agree to a sufficiently strong, coordinated carbon tax that's also applied to imports, the rest of the world would have no choice but to sign up. This idea has already been pitched to Congress several times, with tepid bipartisan support. Even though a carbon tax is probably a long shot, for Hansen, even the slim possibility that bold action like this might happen is enough for him to devote the rest of his life to working to achieve it. On a conference call with reporters in July, Hansen said a potential joint U.S.-China carbon tax is more important than whatever happens at the United Nations climate talks in Paris.

One group Hansen is helping is Our Children's Trust, a legal advocacy organization that's filed a number of novel challenges on behalf of minors under the idea that climate change is a violation of intergenerational equity — children, the group argues, are lawfully entitled to inherit a healthy planet.

A separate challenge to U.S. law is being brought by a former EPA scientist arguing that carbon dioxide isn't just a pollutant (which, under the Clean Air Act, can dissipate on its own), it's also a toxic substance. In general, these substances have exceptionally long life spans in the environment, cause an unreasonable risk, and therefore require remediation. In this case, remediation may involve planting vast numbers of trees or restoring wetlands to bury excess carbon underground.

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