Sacramento – Today Governor Brown announced a projected budget surplus of nearly $9 billion dollars during his annual May Revision. Senator Scott Wilk, R-Antelope Valley, issued the following response:
“Today’s announcement of an almost $9 billion budget surplus leaves little doubt our economy is thriving. I applaud Governor Brown for prioritizing infrastructure, homelessness and the state’s rainy day fund. This is a golden opportunity to correct years of fiscal mismanagement and address areas the majority party has chosen to neglect – crumbling infrastructure, water storage, unfunded pension liabilities and the states homeless crisis.
California may be the fifth largest economy in the world, but our financial picture goes from gloom to doom when our long term obligations are factored in. California is actually $127.5 billion dollars in the red when our pensions, deferred maintenance and bond liabilities are taken into account. Now is the time for fiscal restraint and forward thinking; an all-out spending spree ignores our financial problems and creates further hardship when money is scarce. Prioritizing our infrastructure, bolstering our rainy day fund and putting our financial house in order with a one-time injection of money will put a dent in some of our most serious challenges and protect taxpayers from the inevitable shakedown in lean years.”