California budget swells to almost $200B -- saving for the next economic downturn.

[Sophia4]

California budget swells to almost $200B
. . .

California Gov. Jerry Brown (D) on Friday unveiled a nearly $200 billion budget proposal aimed at stocking away billions for the next economic downturn.

The $199.2 billion proposal, the largest in California’s history, would add another $3.2 billion to the state’s reserve fund, money that could be used when the economy once again goes south. That would leave $13.8 billion in the rainy-day fund, first created by voters in a 2014 ballot measure.

“We’re nearing the longest economic recovery in modern history, and as Isaac Newton observed, what goes up must come down,” Brown said. “This is a time to save for our future, not to make pricey promises we can’t keep.”

The booming stock market and tax revenues coming in well above expectations mean California budget officials will see an $8.8 billion surplus, $3.8 billion more than Brown’s initial budget assumed in January.

http://thehill.com/homenews/state-watch/387311-california-budget-swells-to-almost-200b

California's economy is the fifth largest in the world, yet the votes of Californians count for relatively little in presidential elections because of the electoral college. Our democracy is a travesty when it comes to electing our president.

Nevertheless, we in California are preparing for economic downturns.

Is your state?

[wasupaloopa]

1. Democrats are always better stewards of the economy and budget. Repubs whould give all that

reserve to their wealthy friends and then make further cuts.

I am always thankful to live in a state that conservatives hate.

[jaysunb]

2. Me too ! n/t

[Sophia4]

4. Funny how it is Democrats who actually put conservative financial practices

like saving for a rainy day into practice when they are in charge.

Republicans just spend and spend and spend and don't save.

[BigmanPigman]

3. I am sure those whose pensions come from the state

are happy to hear it.

[Sophia4]

5. When the Republicans were in charge, they borrowed us into big debt, and in

2008 it was nearly disastrous.

Never again.

[BigmanPigman]

6. I know. I worked for the state

as a teacher and we didn't get a pay increase (not even COLA) for 5 years and half the staff was pink-slipped every year(often they were rescinded if we gave up something like benefits). I was a union rep for my school and it was really, really bad financially...I blame Arnold and the overall economy.

[wasupaloopa]

15. I worked for the County of Santa Barbara

and remember not being able to call my partners at the State on furlough Friday’s.

[Blue_true]

7. Please change your title to indicate that the budget surplus swelled.

How about California proposes budget surplus swelled record budget?

[Sophia4]

10. I took the title from the article, but your suggestion is good.

[Blue_true]

11. Good article, thanks for finding it.

Reporters have a tendency to make things associated with democrats look like something that they are not. The title should have been "California, rolling in money, adds to state savings" or something like that. The title made Brown look spend thrifty, when in fact he is being prudent.

[Sophia4]

14. Thanks to Republicans, during the last economic crisis, California was caught

and had a rough time. We raised taxes on ourselves through a proposition process. Good for us. Democrats are responsible citizens. California proves it.

[Blue_true]

16. You guys did well. Kansas and Oklahoma did not. nt

[Blue_true]

8. Is my state of Florida. HELL NO!!!!! It is republican led.

Those assholes can't shoot off their foot with a double-barrel shotgun taped to their ankle (Ice Tea quote).

[Adrahil]

9. A lot of conservatives still like to talk CA being a hellhole...

With massive budget deficits.

My father-in-law for one.

I thought he was going to have a stroke when I pointed out to him that not only does CA has several billion dollar surplus, but that if it were a country, it would qualify for the G7.

[Blue_true]

12. Send him an email stating how much California has in the bank.

And how big it's budget surplus was this year. Add in a kick that Kansas and Okkahoma, republican led, are broke and have no budget surplus. We need to fight those people with fire instead of being gentle with them.

[jaysunb]

13. The comments section of a recent major publication stating California's rise to the 5th

largest economy surpassing Great Britain was really a hate fest against the state. Skewed facts and out right lies went on for over 250 comments. It was amazing. It was a mirror of the same hate toward liberals and progressives, using the same lies and misinformation.
It tells me that they know they're lying to justify voting against their obvious interest and taking tribalism to yet another level.
They have a very serious problem with diversity and acceptance of non white persons.

Not just sad, but sick.

[Blue_true]

17. I found that you have to confront lies with the truth.

Deconstruct their lies one at a time and post the truth. They will hate you for that and try to have you banned, so be careful in how you write stuff, because they will look for any rules violation to nail you.