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Surplus swells as Gov. Jerry Brown's last budget grows to $199 billion
Sacramento Bee: Gov. Jerry Brown is using a surging, $8.8 billion surplus in his 16th and final year leading the state to stash billions of dollars in reserves.
He wants to put almost all of the additional money — $7.6 billion of it — into two reserve funds that combined would hold $17 billion a year from now if trends hold.
He warned at a press conference Friday where he unveiled his final budget for the 2018-19 financial year that a recession could be just around the corner and the state should avoid long-term commitments that it might not be able to afford in a downturn.
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