qwerty-
You have not visited the den of wolves that is the California legislature. A dollar falling from the sky will be spent a couple times over before it even can hit the ground.
So, no surplus. Its all been spent. Aside from irresponsible spending, part of the reason is that various taxes and fees (for example income tax and car registration fees) were cut in “good” times.
I am in no way advocating a tax hike, but few people realize that state taxes were higher back when Ronald Reagan was governor.
Don’t be surprised to see the “Reagan Tax Restoration Act of 2008” proposed to re-fill state coffers.
