Jerry Browns Legacy: A $6.1 Billion Budget Surplus in California
Source: WSJ
California Gov. Jerry Brown appears poised to exit office next year with a top political priority in hand: free from the massive budget deficits that had weighed on his predecessors.
Buoyed by tax increases passed under his administration and a strong economy, Mr. Brown said Wednesday that the state is projecting a $6.1 billion surplus for the next fiscal year, which begins July 1.
The governor proposed socking most of the money away in a rainy-day fund whose creation he pushed for in 2014. Nearly 70% of the states projected revenue of about $135 billion next fiscal year is derived from personal income taxes, according to the governors office.
The states fiscal health is especially crucial as it faces myriad challenges: record natural disasters, housing shortages and changes to federal tax regulationall while it ramps up opposition to the Trump administration on several major policy fronts. Mr. Brown took office in 2011 with a $27 billion deficit and drastically slashed spending. In 2012, he staked his governorship on a tax increase that voters approved that year and reauthorized in 2016.
Read more: https://www.wsj.com/articles/jerry-browns-legacy-a-6-1-billion-budget-surplus-in-california-1515624022
Yes, I know, the whole story is not accessible to non subscribers, but could not find a similar story with the same headline. Perhaps other can add.
bronxiteforever
(9,287 posts)Bernardo de La Paz
(49,036 posts)posted on 1/6/2018, 3:59:38 PM by Dagnabitt
bronxiteforever
(9,287 posts)question everything
(47,534 posts)with the Republicans keep losing.
John Fante
(3,479 posts)whenever California is mentioned.
DoubleAgentOrange
(81 posts)Even if Trump managed fiscal prudence, all the savings would end up with his puppet masters in Moscow, Las Vegas, and Tel Aviv.
Irish_Dem
(47,382 posts)TexasProgresive
(12,158 posts)How come the rPukes are always the ones who get us in terrible debt and we have to bail us out?
DoubleAgentOrange
(81 posts)Our most fiscally prudent leader was the democratic socialist Saskatchewan Premier Tommy Douglas, father of Medicare and founder of the NDP.
He was also one of our countries pre-eminent evangelical leaders and a key player in the Social Gospel movement.
Roy Moore and Trump's Evangelicultists better take note.
vkkv
(3,384 posts)DO NOT create revenue.. IDIOTS.
Bernardo de La Paz
(49,036 posts)Basic economic theory: Government spends in bad times to stimulate economy, and taxes in good times to pay the debt.
RepubliCON dirty trick: Give away money to the rich at the top of a cycle, and then cry about deficits at the bottom as a way to squeeze the poor and middle class and create even greater wealth and income inequality.
Abouttime
(675 posts)8 years of fiscal responsibility and shrinking deficits after babybush exploded the national debt.
Repukes add debt because of tax giveaways to the rich, Democrats come in and clean up the mess.
Bernardo de La Paz
(49,036 posts)question everything
(47,534 posts)to take care of the initial hit on the economy.
But Bush, like Reagan and like the idiot in the White House now, like to cut taxes and fight several wars.
Abouttime
(675 posts)Obama cut deficits. Obama deserved a Nobel Prize for economics.
Bernardo de La Paz
(49,036 posts)It's the big confidence trick. They say one thing and do another. Their base are easily duped. They think emotionally and are not empathetic or sympathetic. They accuse Democrats of being takers, but history shows otherwise.
David Frum tweet:
DAMANgoldberg
(1,278 posts)the first go-round in office in the Ford, Carter, and early Reagan eras.
barbtries
(28,811 posts)to help people out of poverty and homelessness. when i go back home i can see in these areas things have gotten worse since i moved to NC 10 years ago.
Turbineguy
(37,365 posts)they'll need to get a republican in there to fuck things up.
vkkv
(3,384 posts)LenaBaby61
(6,977 posts)beachbum bob
(10,437 posts)ALWAYS
Bernardo de La Paz
(49,036 posts)Sophia4
(3,515 posts)Voters voted in a referendum to raise taxes on those who earn the most.
question everything
(47,534 posts)similar results.
SWBTATTReg
(22,166 posts)Amazing! Perhaps he'll visit us here in Missouri? Maybe stay? Please, please, please!
Old Crank
(3,624 posts)Here is a link to the Sacramento Bee.
http://www.sacbee.com/news/politics-government/the-state-worker/article184886288.html
question everything
(47,534 posts)BigmanPigman
(51,627 posts)healthcare for the state. And maybe build more desalination plants.
Auggie
(31,186 posts)Last edited Thu Jan 11, 2018, 05:10 PM - Edit history (1)
As much as I want public health insurance or Single Payer, I think water infrastructure improvements -- storage and delivery -- is at the top of the list.
Yavin4
(35,445 posts)If you do that, you free up future revenues for whatever projects you want.
efhmc
(14,732 posts)took over.
Bernardo de La Paz
(49,036 posts)Hekate
(90,793 posts)Stupid term limits. Still, Chiang is already running hard.
C Moon
(12,221 posts)REPUBLICANS ARE NOT FISCALLY RESPONSIBLE!!!
All they want to do is feed themselves and others who will feed them again.
They are selfish, callous criminals.
And it is finally VERY obvious that the GOP will put money before ANYTHINGeven their own country.
mulsh
(2,959 posts)When's been unemployed I've encountered him all over Oakland. The most amusing times have been at restaurants where he's joined groups of friends but also in local stores. I have eaten with him, shopped around him many times. I have never seen him pay for anything ever.
Which, if a test of a good lawyer is they always have someone else paying their bills, means he's a great lawyer. When he's employed I never see him anywhere but on TV.
The above is accurate but also sort of a joke. I hope Jerry enjoys his retirement but I suspect he'll keep busy.
Another fun Jerry fact. He is the only politician I have ever seen in parking lots and on the streets passing out literature on issues that he is not directly involved in but thinks are important. I've seen him doing that around Oakland since after his first two terms.
He definitely walks and talks the walk and talks with rare enthusiasm.
question everything
(47,534 posts)He was on the same flight. Just walking around, chatting with people.
Several weeks ago there was a profile of him on CBS Sunday Morning, I think. Did not know he was married. And they have some ranch or something where they will retire.
If we could clone him 50 times, this country will be is so much better shape.
yonder
(9,674 posts)Jerry Brown's California and Sam Brownback's Kansas.
Yavin4
(35,445 posts)Doing that would keep them out of deficits for a long time.
msongs
(67,441 posts)CrispyQ
(36,509 posts)Growing the economy for everyone instead of pilfering it for a few.
RandomAccess
(5,210 posts)moondust
(20,006 posts)Governor Jerry Brown ("60 Minutes," 12/10/17): The fact is we cut the budget, we raised taxes and the economy roared back.
https://www.cbsnews.com/news/the-governor-whos-castigating-the-president-on-climate-change/