Why is California broke? California in the Balance offers a precise analysis of the Golden State s fiscal condition from the process used to write the state budget to the reasons for chronic deficits to the possible paths to stability. Here are the details of California s financial woes, laid out step-by-step by one of the state s leading budgetary experts. In a book recommended by both Republicans and Democrats, John Decker makes plain his extraordinary knowledge of California s budget. With a foreword by California Treasurer Bill Lockyer.