"Jan. 13 (Bloomberg) -- California’s credit rating on $64 billion of general obligation bonds was cut by Standard & Poor’s today as the most-populous U.S. state faces renewed strains over a $20 billion budget deficit.
Gabriel Petek, a San Francisco-based S&P analyst, said the rating was lowered one level to A-, the seventh-highest investment grade. He said the company has a negative outlook on California debt, a sign its standing may decline further. The rating company also cut $13.3 billion of other state debt, including that backed by lease payments."
Gabriel Petek, a San Francisco-based S&P analyst, said the rating was lowered one level to A-, the seventh-highest investment grade. He said the company has a negative outlook on California debt, a sign its standing may decline further. The rating company also cut $13.3 billion of other state debt, including that backed by lease payments."







While our local districts are comprised of well intentioned, highly educated and reflective leaders who are doing their best to find resources to fill the budget shortfall, we are perplexed that some districts agreed to submit a "Memorandum Of Understanding" with the Governor's Office to participate in California's application for the federal Race to the Top (RTTT) competitive grant program. Many of our local teachers' associations hope that since more than half (60%) of school systems in California did not sign on to the State's MOU, that there is change in the RTTT program language so that district leaders, teachers, parents and stakeholders can work together with their local districts to come up with solutions that are based in research-supported strategies for all.











