OPINION: 2016 is starting to look a lot like 1978
Jerry Brown first served as Governor during the recession in the 70s and was able to show initial fiscal restraint. But by the end of his time in office, he left with a deficit. And now we are in a similar situation again with Jerry Brown. We have a budget surplus, albeit from higher taxes and larger population, but it isn’t large enough to sustain fiscally responsible spending if we were to suffer another economic downturn.
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