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Home  »  Nation/World  »  Markets

Brown says California on track, future bright

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California now has a budget surplus and is on the right track, Gov. Jerry Brown says.

MOUNTAIN VIEW, Calif. (AP) — California could be a model for national economic growth after cutting public programs, raising taxes on the wealthy and continuing to invest in infrastructure, California Gov. Jerry Brown said Monday.

“People were calling it a failed state,” Brown said. “But the fact is, from a $27 billion deficit we now have a very significant surplus that can continue for many years to come.”

Brown was interviewed by James Bennet, editor-in-chief of The Atlantic, before an audience of about 100 technology business leaders at a Silicon Valley summit focusing on innovation.

Brown noted that the Silicon Valley was a source of innovation and revitalization for California.

“This is still a very yeasty place,” he said, drawing laughs. “Far from decline we’re in a very creative stage of our national history.”

Brown warned that the largest pitfall is the fact that small special-interest groups can interfere with efforts for broader national change.

“We don’t have an overriding purpose, vision or leadership that can overcome these powerful blocking groupings that put their interests ahead of the national interest,” he said.



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