California governor urges restraint despite state’s riches

SACRAMENTO, California (Reuters) – Governor Jerry Brown, hailing what he described as a hard-fought rebound in California's fortunes, used his annual State of the State address on Thursday to urge fiscal discipline to avoid a return to budget deficits and cycles of "boom and bust." He called on the legislature of the most populous U.S. state to help him keep a promise to voters to "jealously guard" the billions of dollars in additional revenue made available through passage last year of a ballot measure temporarily extending tax increases. …