California Budget

Rich Pedroncelli/The Associated Press

Gov. Jerry Brown points to a chart showing the volatility of capital-gains revenues as he unveils his proposed 2014-15 state budget Thursday in Sacramento.<137> Calif., Thursday Jan. 9, 2014. A robust economic recovery and surging revenue propelled by voter-approved tax increases has sent California's general fund spending to a record high, marking a dramatic turn-around for the state. With the an increase in tax receipts, Brown is proposing a spending plan that includes a 8.5 percent increase in general fund spending coupled with a dedication to pay down the state's debt by more than $11 billion.(AP Photo/Rich Pedroncelli)<137>

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