California's 2011-12 budget, signed yesterday by Gov. Jerry Brown, "relies on optimistic...

|By:, SA News Editor

California's 2011-12 budget, signed yesterday by Gov. Jerry Brown, "relies on optimistic projections that tax revenue will be about $12 billion higher in the coming fiscal year than projected in January, largely because the wealthy are doing so well." If revenues fall short, additional budget cuts are in store. Those tech IPOs better keep coming.