California revised budget up slightly, reinstates some cuts

California Governor Jerry Brown on Thursday revised his proposed budget for the upcoming fiscal year, raising total spending by 2.2 percent and increasing funding for schools and transportation, even as he warned that the state's economy likely cannot sustain the growth of recent years.The revised budget for the 2018 fiscal year, which starts July 1, provides a $6 billion loan to the California Public Employees' Retirement System, the nation's largest public pension fund, in an effort to reduce