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Old 05-27-2013, 09:55 PM   #1
24champ
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Keep Calm and Chive on

Join Date: Aug 2005
Location: Southern California
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Default California has a new problem...

Quote:
LOS ANGELES — After years of grueling battles over state budget deficits and spending cuts, California has a new challenge on its hands: too much money. An unexpected surplus is fueling an argument over how the state should respond to its turn of good fortune.

The amount is a matter of debate, but by any measure significant: between $1.2 billion, projected by Gov. Jerry Brown, and $4.4 billion, the estimate of the Legislature’s independent financial analyst. The surplus comes barely three years after the state was facing a deficit of close to $60 billion.
http://www.nytimes.com/2013/05/26/us...nted=2&hp&_r=0


How should they spend the surplus?

My take is that CA should start putting some of it in a Rainy day fund + reinvestment in public service and education.
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