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Although California's spending as a proportion of its total economy is the lowest in 39 years,...
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Monday, June 11, 2012, 12:34 PM ETAlthough California's spending as a proportion of its total economy is the lowest in 39 years, the state will have to make more cuts in order to balance its FY 2013 budget, S&P says. A major problem is that California's tax system is "dysfunctional."
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