Article: California Has a Nice October Surprise.(News)

Byline: Rich Saskal

SAN FRANCISCO - California Controller John Chiang delivered a rare piece of good news this week in his monthly general fund cash report, saying the state beat its budget estimates for of October.

General fund receipts were $285 million ahead of estimates in the most recent amended budget.

"October's receipts are a welcome break from a largely negative trend line for the last two years," Chiang said in a statement Tuesday. "However, high unemployment, excessive borrowing, an ailing construction industry, and legal challenges to the budget remain real threats to the state's cash outlook."

Despite the ...

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