Gov. Jerry Brown carries notebook paper after unveiling his proposed 2016-17 state budget at the Capitol on Jan. 7. Brown warned that the state is overdue for a recession and needs to build reserves to cushion the effects of an economic downturn. (Renée C. Byer – firstname.lastname@example.org)
By Dan Walters
April 22, 2016 – 2:51 PM
- Texas shines in ability to absorb a recession
- California and Illinois at the bottom
California, whose state budget is highly dependent on volatile income taxes, is the least able big state to withstand a recession, according to a “stress test” conducted by Moody’s Investor Service.
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