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Brown says there’s no budget deficit; predicts surplus next year

Thursday, January 10, 2013

Gov. Jerry Brown announces that California faces no budget deficit for the first time since the recession. Not only that, but he says that California’s $96.7-billion general fund is now poised to end next year with a surplus. That said, the state still faces risks and he’s unwilling to restore cuts to social services and other programs. “It’s best to maintain a very solid budget and a good reserve  . . . or we’ll go back to the boom and bust, borrow and spend.”

His spending plan unveiled this morning calls for small increases for education but generally holds the line elsewhere. PolitiCal; Capitol Alert

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