California has Billions in Extra Money. Why Don’t Taxpayers Get a Refund?

California state government has so much money this year that it’s opening two new savings accounts so it can keep socking away even more cash for the rainy day that Gov. Jerry Brown says is just over the horizon.

That tactic — setting a course to pile up $16 billion in savings over the next 12 months — should reassure taxpayers that cuts to government services won’t be as severe as they were a decade ago when the state’s economy plummeted into the Great Recession.

Click here to read article at sacbee.com.