Holly J. Mitchell

We're in the money, California! Now let's not spend our budget surplus like drunken sailors

We're in the money, California! Now let's not spend our budget surplus like drunken sailors

When California Gov. Jerry Brown proposed the first state budget of his third term in 2011, it was a gloomy affair. The recession lingered over the nation’s economy like a nasty head cold, and California was $27 billion in the hole. Brown’s message at the time was, appropriately, one of belt tightening.

Seven years later, the state’s fortunes have flipped, thanks to one of the longest economic expansions in modern history and to voters’ decision to pass the Proposition 30 tax hikes in 2012. California is now rolling in dough, with a $7.5-billion general fund surplus expected in the next fiscal year.

Woo hoo! Great news! But rather than revert instantly to the profligate ways...

EDITION: California | U.S. & World
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