Why California Is Going To Miss Governor Brown

Governor Brown

On Wednesday while he was launching the budget for the state of California for the 2018-2019 financial year in Sacramento, the incumbent government could not resist the forecasting of the economic conditions for years to come in the Golden State. During his second term as governor, Brown has been trying to make preparations for his outcome and leave a legacy. Since the proposition for the limitation of property taxes was passed in 1978, California has become very dependent on revenues collected from state income taxes frequently fluctuate by the Silicon Valley fortunes and the tech industry in general. California has managed to come up with a rainy day fund under the direction and leadership of Governor Brown for the upcoming recession.

The fund is expected to have collected a total sum of $13.5 billion by the end of the 2019 fiscal year which can be equated to about 10% of the general fund revenue. Gov. Brown has also overseen the development of new spending commitments that are quite significant and are currently in progress. On Wednesday, the governor warned that the large obligations for pension and retirement benefits for California would have to be rolled back at some point in time.

It is not new or strange for the governor to show such kind of unique pessimism and conservatism. During Mr. Brown’s first stint as the governor for the great state of California in the years between 1975 and 1983, the big surpluses in budget that were run by the state treasury in good time were among the motivating factors that led to the voting of the tax breaks with prop 13 by the residents of California. Moreover, despite the ‘Moonbeam’ nickname that was given to governor brown in the 70s, he has always expressed pragmatic views on both politics and issues to do with public finance and tax obligations.

Gov. Brown has never been a centrist in his political views but has also never been a strong advocate for the liberal nor the conservative school of political thought. The second coming of Brown to take the stewardship for the state of California has come with a sense of skill and wisdom that was conspicuously absent in his first round as governor. For instance, during his first stint, he was only 39 years old and has come back in his sunset years at the age of 79. We can comfortably say that Governor Brown’s long political career has made him an almost perfect and effective political leader.