California Gov. Jerry Brown points to a chart showing the growth of the state’s Rainy Day fund as as he discusses his proposed 2018-19 state budget at a news conference Wednesday, Jan. 10, 2018, in Sacramento, Calif. Brown proposed a $131.7 billion state spending plan, dedicating $5 billion toward the fund. (AP Photo/Rich Pedroncelli)
SACRAMENTO, Calif. — California is projecting one of its largest budget surpluses in years, but Democratic Gov. Jerry Brown on Wednesday proposed spending almost none of it, sticking with his traditionally restrained approach in his final budget.