SACRAMENTO: California governor Jerry Brown presented a multiyear budget plan that is balanced and mantains a $1 billion reserve, paying down budgetary debt from past years.
Overall General Fund spending is projected to grow by 5 percent, from $93 billion in 2012-13 to $97.7 billion in fiscal 2013-14. Total revenues and transfers for 2013-2014 are seen at $98.5 billion up from $95.39 billion.
The economic forecast included in the budget sees the state's unemployment at 9.6 percent in 2013, falling to 8.7 percent in 2014.
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