Our annual Fiscal Outlook publication gives our office’s independent assessment of the California state budget condition for the upcoming fiscal year and over the longer term. In this report, we anticipate the state will have a $31 billion surplus to allocate in the upcoming fiscal year and operating surpluses ranging from $3 billion to $8 billion over the multiyear period. We also find the state will need to allocate about $14 billion to meet the constitutional requirements of the State Appropriation's Limit (SAL) across 2020-21 and 2021-22.
one pat of butter for a whole loaf of bread. when wall street enabled $8 trillion housing bubble popped thanks like deregulation, derivatives and alan greenspan, the housing bubble became an $8 trillion crisis which is why we ended you up with the worst recession and the great depression and the 10% unemployment. it s not teachers, firefighters, people who pick up trash or their astronomical salaries which don t exist or state pension contributions that have driven state budgets into the very, very deep crimson red. take the state of new jersey, for example, where republican governor chris christie has become the grand de jure for taking on the public sector unions. governor christie stood up to public sector unions and battled the teachers union. governor christie didn t just battle the teachers union. here s also done what new jersey governors have been doing since 1992. he has shortchanged the pension system.