Monthly Archives: June 2013

California Lawmakers Pass State Budget Bill

Both houses of the Legislature passed the main budget bill today, four days after Gov. Jerry Brown and legislative leaders reached a compromise on the state’s annual spending plan.

Lawmakers in both the Senate and Assembly were beginning to take up more than 20 trailer bills associated with the budget and were expected to return for final votes on Saturday.

The $96.3 billion budget includes a modified version of the Democratic governor’s proposal to shift more education money to poor and English-learning students, as well as commitments to spend money in the future on mental health services, college student aid and other programs.

The Senate approved the budget 28-10 along party lines. Democratic
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Rethinking Your Stance on Earthquake Coverage

Only 17% of California’s homeowners have earthquake insurance. Are the rest in denial–or making a rational choice?

Some financial planners suggest the latter. They say that the majority of California homeowners are opting out after weighing the relatively remote chance of a temblor destroying their homes against the high cost of today’s earthquake coverage.

But we don’t buy insurance coverage just to protect us from likely occurrences. We get insurance to guard against unlikely and financially devastating events. That’s why we buy life insurance: Most of us don’t expect our families to need it. Not having coverage, however, could mean a financial nightmare for our families if the unlikely should happen and
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