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Politics : Formerly About Advanced Micro Devices

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To: RetiredNow who wrote (1121926)3/2/2019 7:58:19 AM
From: sylvester80  Read Replies (1) of 1576835
 
California has ‘extraordinary’ budget surplus, analysts say
Melody Gutierrez
Nov. 14, 2018 Updated: Nov. 14, 2018 5:34 p.m.
sfchronicle.com

1of25Gavin Newsom promised several costly projects during his successful campaign for governor. He will inherit a sizable budget surplus in January.Photo: Justin Sullivan / Getty Images

2of25.Photo: SAN ANTONIO EXPRESS-NEWS

3of25Kids under 12 can no longer be prosecuted for crimes other than certain violent felonies, which include murder and sexual assault (SB 439).Photo: Ariusz

SACRAMENTO — Good news for Gov.-elect Gavin Newsom: California’s budget is in “remarkably good shape,” according to a forecast for the coming fiscal year that the nonpartisan Legislative Analyst’s Office released Wednesday.

The forecast estimates that the state will have a $14.8 billion surplus during the 2019-20 fiscal year on top of $14.5 billion in rainy day savings.

“By historical standards, this surplus is extraordinary,” the analyst’s office wrote.

Newsom will release his first budget in January, shortly after he is sworn in to replace Gov. Jerry Brown.

Brown made it a priority to direct budget surpluses to the state’s rainy day fund, arguing that it was a cushion against an inevitable recession.
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