Calif.'s Comeback Depends On Careful Spending, Gov. Says
By Erin Coe
Law360, San Diego (January 22, 2014, 8:37 PM EST) -- Gov. Jerry Brown on Wednesday pointed to California’s budget surplus and minimum-wage hike as signs of the state’s comeback, but warned that spending must be controlled amid enormous pension liabilities, a drought that hints at climate change to come and uncertain costs of the Affordable Care Act.
In his annual State of the State speech to the California Legislature, the governor hailed the budget surplus in the billions of dollars that came in part from a tax increase initiative passed by voters in 2012 and legislation...