Links:

*  Jerry Brown now has $14 million in the bank. This is a really good total, historically it would put him right in the thick of things.  This is a very different year, though. He’ll need to keep on the fundraising trail.

*  CalSTRS, like its big brother, CalPERS, is facing a future shortfall. The investment bubble hit the pension fund hard. Solutions appear to be on the back burner until after the election.

*  The effects of health care reform will be both swift and delayed. But look for some rather big changes in the short-term.

*  Tucked away in the Reconciliation bill last night was a nice little boost for community colleges.

* The State Water Resources Control Board had some hearings today to decide how much water needs to flow through the Delta system to honor the “public trust.”