California's Fiscal Outlook:
The LAO's Economic and Budget Projections,
Chapter 1 contains our principal findings and conclusions. Chapter 2 presents our economic and demographic projections, Chapter 3 our revenue forecasts, and Chapter 4 our expenditure projections. Chapter 5 discusses long-term considerations relating to the state's fiscal outlook in the future. Among others, these include demographic and economic factors, revenue considerations, expenditure developments, and state and federal policies and law changes with state fiscal implications.
Our fiscal projections reflect current-law spending requirements and tax provisions. They are not predictions of future policy decisions by the Legislature, nor are they our recommendations as to what spending and revenue levels should be. The report is part of an ongoing series and will be updated periodically.
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