California 2013-2014 budget at $97.7 bln

SACRAMENTO Thu Jan 10, 2013 1:12pm EST

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SACRAMENTO Jan 10 (Reuters) - California Governor Jerry Brown on Thursday proposed a 2013-2014 $97.7 billion general budget which increased general fund spending by 5 percent mainly for education and healthcare.

The main budget, California's General Fund, would maintain $1 billion reserves.

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Comments (1)
bdeeber8 wrote:
So, Cali runs up a massive deficit under Conan the Republican, then balances the budget under a supposedly flaky Democrat. Dubya Bush inherits, then quickly squanders, a big budget surplus from Bill Clinton, creating a monster deficit which Republicans now try to blame on Obama. And Clinton was the first President to balance the budget since … JFK. Yet polls say that people continually rate the GOP as better able to handle their money. Isn’t it ironic? Don’t ya think?

Jan 10, 2013 4:58pm EST  --  Report as abuse
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California state worker Albert Jagow (L) goes over his retirement options with Calpers Retirement Program Specialist JeanAnn Kirkpatrick at the Calpers regional office in Sacramento, California October 21, 2009. Calpers, the largest U.S. public pension fund, manages retirement benefits for more than 1.6 million people, with assets comparable in value to the entire GDP of Israel. The Calpers investment portfolio had a historic drop in value, going from a peak of $250 billion in the fall of 2007 to $167 billion in March 2009, a loss of about a third during that period. It is now around $200 billion. REUTERS/Max Whittaker   (UNITED STATES) - RTXPWOZ

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