When Gov. Jerry Brown unveiled his proposed 2014-15 budget this month – one based on estimates of sharply increased state revenues – a reporter asked him whether, in retrospect, California needed the tax increase he had persuaded voters to approve in 2012.
Brown’s response, in essence, was that the tax boost’s money is needed to pay off the debts that the state had incurred, not only for past budget deficits, but for long-term future obligations that total about $350 billion.
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