- Written by
Administrator
- Posted April 29, 2013 at 8:07 am

Gov. Jerry Brown’s proposed budget contains no provision for a reserve. Without a financial cushion, some say, California may be more vulnerable to drops in revenue.
By Chris Megerian, Los Angeles Times
April 28, 2013, 4:14 p.m.
SACRAMENTO — Arnold Schwarzenegger persuaded voters nine years ago that if they let him borrow money to cover the budget deficit, California’s financial woes would end for good. A key part of his plan was a new rainy-day fund to insulate the state from further crisis.
“It will be a whole new ball game,” Schwarzenegger said. “Trust me.”
Read the rest of this entry »