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Governor Brown Says Budget Proposal Prudent
Governor Jerry Brown has proposed a record $113 billion budget for the state of California, thanks to increased revenues from a recovering economy. "We have a carefully balanced budget, more precarious than I'd like, but it is balanced," said Brown. The bulk of expenditures in the budget is for education which will get $8 billion more than last year. Money would be spent to pay down borrowing to balance past budgets as well as increasing the state's emergency reserve fund approved by voters. With the addition of $1.2 billion to the fund, it will rise to $2.8 billion by the end of the fiscal year.