Brown Meets Budget Deadline, but Big Headaches Remain

For the first time in decades, California has a budget before the next fiscal year begins tomorrow. Today, Governor Brown signed a state spending plan he called "honest but painful," full of cuts to core functions of government, but also based on revenues that may never come through. Will the "Amazon tax" push companies out of the state? Can redevelopment agencies legally be abolished so the state can take their money? Are the rich really making that much more than expected? Also, the man who flew from New York to Los Angeles on an expired boarding pass in somebody else's name. On our rebroadcast of today's To the Point, playing chicken with the US economy.

Banner image: California Governor Jerry Brown delivers a keynote address during the 2011 Pacific Coast Builders Conference on June 23, 2011 as State legislators scramble to revise a budget that Brown vetoed. Photo: Justin Sullivan/Getty Images