In June, the State of California managed to stave off fiscal crisis by filling a $26 billion budget deficit with dramatic spending cuts. Fast forward to Monday, when the California Public Employees' Retirement System (CalPERS) Board announced it would invest an additional $800 million in California infrastructure over the next three years (four times the fund's current allocation to Californian infrastructure). Coincidence? Implications? Deep thoughts? Read here.

Posted by ashby at September 14, 2011 3:13 PM