California's got a new problem: Too much money. This year's expected surplus of $1.2B-$4.4B...

|By:, SA News Editor

California's got a new problem: Too much money. This year's expected surplus of $1.2B-$4.4B comes three years after the state faced a deficit of nearly $60B. Governor Brown - arguing the surplus is the result of a flood of capital-gains realizations ahead of higher 2013 tax rates - wants to put the money aside. The legislature - dominated by Brown's own party - wants to spend it.