Extra Money/Interesting Times

The state controller is out with the monthly cash report for for the fiscal year through September. It shows about $5 billion in extra revenue compared with the budget forecast for the first quarter of the fiscal year (July-Sept.), with about $2.6 of that amount coming from the personal income tax (AI boom; capital gains) and $2 billion from the corporate tax. The state has about $102 billion in unused borrowable resources. 

There are a lot of what ifs out there, however. What if the AI boom turns out to be a bubble that bursts, similar to the dot-com boom/bust of the early 2000s? Much of that unused cash is not in the general fund or funds associated with the general fund. The dot-com episode and the later mortgage bust of 2008 both led to ongoing budget crises of the state - which filtered into UC. And there is the uncertainty of wars abroad, the upcoming election, etc.

Interesting times, as they say:

Or direct to https://www.youtube.com/shorts/9ysqz4tGIMg.