Economics
California’s Brown Says Budget Plan Will Be ‘Painful’
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Jerry Brown said the budget he’ll propose as California’s new governor, 36 years after he first stepped into the job, will be “painful.”
Brown, 72, a Democrat who served two terms as governor from 1975 to 1983, faces a self-described “day of reckoning” over a $28 billion budget gap that promises battles with lawmakers, unions and investors threatening to shun the bonds of the most-indebted state.