California Out of the Red, How Will New-Found Riches Be Spent?

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After years of crippling deficits, state government is not just out of the red, it'll have a surplus. That's partly due to Governor Brown's tax increase, passed by the voters last year. So how should the money be spent? Can we finally restore draconian cuts in services for the aged, poor and disabled? Is it time to cut taxes? Could too much of either of those good things mean a return to the bad days of deficit? Also, has the time when government service meant a guaranteed pension come to an end?

Image-for-WWLA.jpgOn our rebroadcast of today's To the Point, Bitcoins are now worth a total of $1 billion, not bad for a virtual currency that's four years old and not backed by a central bank. Bitcoins are a way to make payments on the Internet — without any fees. They're also a way to lose money fast. We hear more about digital technology and the future of money.


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Warren Olney