2 ms·
CA has a pretty big rainy-day fund. It'll be exhausted eventually, but I'm not sure it will be this year. The most recent sources I've found suggest the state h
by kevingadd 7y ago
CA has a pretty big rainy-day fund. It'll be exhausted eventually, but I'm not sure it will be this year. The most recent sources I've found suggest the state has around $20bn in reserves, which probably is enough to buffer us through a bad year unless tax incomes completely drop to 0.
- bpodgursky 7y agoThe budget for the year was $208 billion, so you only need a 10% haircut to need help. And the budget is HEAVILY funded by (1) Silicon Valley IPOs, and (2) Hollywood. Both of those are going to generate $0 near-term. Not to mention retirement funds which are going to be obliterated, but that's a somewhat separate issue from the budget.