This year, amidst a tax increase and an economic recovery, after years of budget cuts and massive deficits, the state of California is turning a nice surplus. Most Democrats in Sacramento want to immediately establish new permanent programs.
Perhaps in some cases, they argue for reinstating some of the social welfare programs that were cut during the Great Recession. In other cases, they'd like to establish brand new programs, because if there's some extra money this year, why no establish new spending obligations with no guarantee of budget surpluses next year?
Need we remind them that the voter-approved tax increase was temporary, and that economic booms [Silicon Valley, Wall Street] are also temporary?
Jerry Brown is proposing an initiative that would set aside a rainy day fund, if the fiscal year's capital gains tax comprises beyond a certain percentage of overall tax revenue. He's the most responsible politician in Sacramento.
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