Gavin Newsom: “We also paid down long term obligations, some $15 billion in…”

“And now here's the part again that cynics don't want you to hear. We did all of that again, balancing the budget. But at the Same time, We also paid down long term obligations, some $15 billion in long term pension debt. And we're carrying nearly 30 billion in total reserves and closer actually to 40 billion. Counting the surplus account. We could have spent every dollar this year and called it a victory.” (02:40–02:48)

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