WARNING OF RECESSION, GOVERNOR PROPOSES PRUDENT BUDGET

Our good friend Loren Kay, President of the California Foundation for Commerce and Education, offers this analysis of the budget.  Saying:

“Emphasizing his commitment to fiscal prudence, Governor Brown this week proposed a $171 billion balanced state budget with no new general taxes and an $8 billion rainy day reserve.

“Even though General Fund spending is projected to rise by more than $9 billion over the past two years, actual spending is held in check. Thanks to the Proposition 2 budget reform, the Governor proposes boosting the state’s rainy day reserve and paying down another $1.5 billion in budget debt.”

Click here to read the full budget.

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