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Thu Jan 11, 2018, 11:58 AM

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 state’s projected revenue of about $135 billion next fiscal year is derived from personal income taxes, according to the governor’s office.

The state’s fiscal health is especially crucial as it faces myriad challenges: record natural disasters, housing shortages and changes to federal tax regulation—all 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.

43 replies, 3012 views

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Reply Jerry Browns Legacy: A $6.1 Billion Budget Surplus in California (Original post)
question everything Jan 11 OP
bronxiteforever Jan 11 #1
Bernardo de La Paz Jan 11 #18
bronxiteforever Jan 11 #21
question everything Jan 11 #29
John Fante Jan 11 #35
DoubleAgentOrange Jan 11 #2
Irish_Dem Jan 11 #4
TexasProgresive Jan 11 #3
DoubleAgentOrange Jan 11 #7
vkkv Jan 11 #10
Bernardo de La Paz Jan 11 #16
Abouttime Jan 11 #13
Bernardo de La Paz Jan 11 #20
question everything Jan 11 #30
Abouttime Jan 11 #42
Bernardo de La Paz Jan 11 #15
DAMANgoldberg Jan 11 #5
barbtries Jan 11 #6
Turbineguy Jan 11 #8
vkkv Jan 11 #11
LenaBaby61 Jan 11 #14
beachbum bob Jan 11 #9
Bernardo de La Paz Jan 11 #17
Sophia4 Jan 11 #22
question everything Jan 11 #31
SWBTATTReg Jan 11 #12
Old Crank Jan 11 #19
question everything Jan 11 #32
BigmanPigman Jan 11 #23
Auggie Jan 11 #26
Yavin4 Jan 11 #38
efhmc Jan 11 #24
Bernardo de La Paz Jan 11 #25
Hekate Jan 11 #27
C Moon Jan 11 #28
mulsh Jan 11 #33
question everything Jan 11 #36
yonder Jan 11 #34
Yavin4 Jan 11 #37
msongs Jan 11 #39
CrispyQ Jan 11 #40
RandomAccess Jan 11 #41
moondust Jan 11 #43

Response to question everything (Original post)

Thu Jan 11, 2018, 12:01 PM

1. Kick and recommend.

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Response to bronxiteforever (Reply #1)

Thu Jan 11, 2018, 01:06 PM

18. Trumpanzees looking through wrong end of telescope



California is the corpse of a once great state, politically destroyed by third-world immigration.
posted on 1/6/2018, 3:59:38 PM by Dagnabitt


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Response to Bernardo de La Paz (Reply #18)

Thu Jan 11, 2018, 01:10 PM

21. Its amazing how they believe what they want to regardless of objective facts.

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Response to bronxiteforever (Reply #21)

Thu Jan 11, 2018, 01:35 PM

29. Right. And California basically has been a one party government

with the Republicans keep losing.

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Response to Bernardo de La Paz (Reply #18)

Thu Jan 11, 2018, 01:58 PM

35. They reflexively post stuff like that

whenever California is mentioned.

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Response to question everything (Original post)

Thu Jan 11, 2018, 12:02 PM

2. Magnificent, Moon Beam

 

Even if Trump managed fiscal prudence, all the savings would end up with his puppet masters in Moscow, Las Vegas, and Tel Aviv.

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Response to DoubleAgentOrange (Reply #2)

Thu Jan 11, 2018, 12:04 PM

4. Con artists think any pot of money is theirs for the taking. nt

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Response to question everything (Original post)

Thu Jan 11, 2018, 12:03 PM

3. Those tax and spend librals!

How come the rPukes are always the ones who get us in terrible debt and we have to bail us out?

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Response to TexasProgresive (Reply #3)

Thu Jan 11, 2018, 12:13 PM

7. Just like Canada

 

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.

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Response to TexasProgresive (Reply #3)

Thu Jan 11, 2018, 12:20 PM

10. I think the GOP methods create distrust in the economy which slows consumer spending. Plus, tax cuts


DO NOT create revenue.. IDIOTS.

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Response to vkkv (Reply #10)

Thu Jan 11, 2018, 01:01 PM

16. Yup. They get cycles backwards. They borrow & spend at top of cycles so they cut at bottom.


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.

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Response to TexasProgresive (Reply #3)

Thu Jan 11, 2018, 12:46 PM

13. Obamas legacy

 

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.

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Response to Abouttime (Reply #13)

Thu Jan 11, 2018, 01:08 PM

20. Bush v Obama. Note Bill Clinton's last budget left a surplus.

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Response to Bernardo de La Paz (Reply #20)

Thu Jan 11, 2018, 01:37 PM

30. And right after 9/11 most of us were glad that we had that Clinton surplus

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.

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Response to Bernardo de La Paz (Reply #20)

Thu Jan 11, 2018, 11:11 PM

42. Bush doubled the national debt

 

Obama cut deficits. Obama deserved a Nobel Prize for economics.

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Response to TexasProgresive (Reply #3)

Thu Jan 11, 2018, 12:57 PM

15. That's because RepubliCONs are borrow-and-spend; fiscally irresponsible. Make messes; Ds clean it up


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:
"Regular reminder that Donald Trump’s core competency is not deal-making with powerful counter-parties. It is duping gullible victims."


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Response to question everything (Original post)

Thu Jan 11, 2018, 12:11 PM

5. Gov. Brown also bailed California out...

the first go-round in office in the Ford, Carter, and early Reagan eras.

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Response to question everything (Original post)

Thu Jan 11, 2018, 12:12 PM

6. some of this should be earmarked

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.

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Response to question everything (Original post)

Thu Jan 11, 2018, 12:16 PM

8. Obviously,

they'll need to get a republican in there to fuck things up.

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Response to Turbineguy (Reply #8)

Thu Jan 11, 2018, 12:21 PM

11. Fotunately, lot's of conservatives are moving OUT OF STATE!


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Response to vkkv (Reply #11)

Thu Jan 11, 2018, 12:54 PM

14. Fortunately, lot's of conservatives are moving OUT OF STATE!

YES!

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Response to question everything (Original post)

Thu Jan 11, 2018, 12:18 PM

9. all those taxes...why are conservatives ALWAYS WRONG on economic and tax issues??

ALWAYS

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Response to beachbum bob (Reply #9)

Thu Jan 11, 2018, 01:03 PM

17. Greed. Those that think can't stop themselves and most CONs don't think. . . . nt

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Response to beachbum bob (Reply #9)

Thu Jan 11, 2018, 01:12 PM

22. The taxes were imposed by voters.

Voters voted in a referendum to raise taxes on those who earn the most.

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Response to Sophia4 (Reply #22)

Thu Jan 11, 2018, 01:39 PM

31. And, I suspect that similar referndum in other states would generate

similar results.

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Response to question everything (Original post)

Thu Jan 11, 2018, 12:36 PM

12. Gotta love him!!!!

Amazing! Perhaps he'll visit us here in Missouri? Maybe stay? Please, please, please!

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Response to Old Crank (Reply #19)

Thu Jan 11, 2018, 01:40 PM

32. Thank you (nt)

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Response to question everything (Original post)

Thu Jan 11, 2018, 01:13 PM

23. I wish the state would use the money for universal

healthcare for the state. And maybe build more desalination plants.

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Response to BigmanPigman (Reply #23)

Thu Jan 11, 2018, 01:25 PM

26. We have a long list of needs

Last edited Thu Jan 11, 2018, 04:10 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.

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Response to Auggie (Reply #26)

Thu Jan 11, 2018, 02:26 PM

38. Shore up your pension fund.

If you do that, you free up future revenues for whatever projects you want.

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Response to question everything (Original post)

Thu Jan 11, 2018, 01:16 PM

24. Texas had a surplus until baby bush and GOP

took over.

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Response to question everything (Original post)

Thu Jan 11, 2018, 01:18 PM

25. Democrats raise incomes for ALL racial groups. ALL. More than RepubliCONs.




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Response to question everything (Original post)

Thu Jan 11, 2018, 01:26 PM

27. I love me some Jerry Brown. Fingers crossed that we elect a Dem after he retires...

Stupid term limits. Still, Chiang is already running hard.

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Response to question everything (Original post)

Thu Jan 11, 2018, 01:32 PM

28. How the hell is it that people say, "I'm a fiscal Republican."

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 ANYTHING—even their own country.

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Response to question everything (Original post)

Thu Jan 11, 2018, 01:52 PM

33. He's been a much better governor the second time. I live in fear of the days he's no longer employed

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.

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Response to mulsh (Reply #33)

Thu Jan 11, 2018, 02:17 PM

36. In 1979, or 1980 we flew from Minneapolis to Los Angeles

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.

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Response to question everything (Original post)

Thu Jan 11, 2018, 01:57 PM

34. Tale of Two States:

Jerry Brown's California and Sam Brownback's Kansas.

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Response to question everything (Original post)

Thu Jan 11, 2018, 02:25 PM

37. CA should shore up its pension liabilities with that money.

Doing that would keep them out of deficits for a long time.

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Response to question everything (Original post)

Thu Jan 11, 2018, 02:55 PM

39. excessively high and gouging marijuana taxes will swell this number nt

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Response to question everything (Original post)

Thu Jan 11, 2018, 05:17 PM

40. This: "Buoyed by tax increases passed under his administration..."

Growing the economy for everyone instead of pilfering it for a few.

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Response to question everything (Original post)

Thu Jan 11, 2018, 05:45 PM

41. Gov. Moonbeam gets the last laugh.

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Response to question everything (Original post)

Thu Jan 11, 2018, 11:33 PM

43. "You gotta pay some taxes."


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/

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