California is swimming in money

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Insisting that California lawmakers continue to restrain government spending growth in preparation for a recession he believes is just around the corner, the Los Angeles Times reports that Gov. Jerry Brown on Wednesday unveiled a state budget for 2018 that proposes banking most of a $6.1-billion tax revenue windfall expected to show up in the fiscal year beginning July 1.

Most of the money would be placed into the state’s primary reserve fund, a savings account that would grow to $13.5 billion — the largest such crisis contingency fund in California history.

Click here for more details on the budget.

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One comment

  1. That’s because Jerry knows darn well that soon, the federal monies he’s been feeding on for his Socialism are ending.. Toss in the new federal tax law that says his voters can’t deduct the state income tax and he can see that it’s going to be hard times for his state. Socialism ALWAYS ends badly and he knows it.

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