Valley News -

By Assemblymember Marie Waldron
Special to Valley News 

Wise savings made for California

 

Last updated 1/31/2019 at 7:11pm



California appears to be flush with cash. Last November, the Legislative Analyst’s office reported a $14.8 billion surplus for the fiscal year beginning July 1. That was later updated to a projected $20.6 billion, while Gov. Gavin Newsom’s finance department is predicting a surplus of $21.4 billion.

Unfortunately, that surplus can quickly disappear. During the Great Recession, California faced annual budget deficits over $20 billion, a situation that could be repeated when another economic downturn hits. A recession is inevitable; we just don’t know when it will come.

That’s why I...



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