Budget +29: Does California Have A Rainy Day Fund?

July 29, 2010 · Filed Under CA Budget, The Governor · Comments Off 

As Governor Arnold Schwarzenegger hits the road to talk to groups around the state about the stalled budget talks here in Sacramento, he keeps telling audiences that California has no reserve "rainy day" fund.

It's a statement that, one assumes, proves the need for systemic budget reform before he signs any new spending plan for the now 29 day late budget.

But it's also hard to square with the past.
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