Don’t Raid California’s Rainy Day Fund to Pay Down Its Debt

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The special legislative session in Sacramento this week is weighing the future of California's rainy day fund, particularly how much of it should be used for paying down the state's debt. When they're considering the trade-offs between saving for the future and paying debt, legislators should bear in mind that the rainy day fund isn't the only way they can reduce taxpayer liabilities.

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