Sacramento can’t bet on perpetual prosperity

In Sacramento, the talk is all about big budget surpluses — and big new spending. But across the state, signs of an economic downturn are strengthening.
Combined with investors’ worries around the world and a disturbing picture is emerging. California’s public officials might enjoy taking it to President Trump on the economy, but they have no plan to change ideological course to fit more difficult times.
The Golden State’s fortunes may have already peaked for a while. The