One of the conceits of Capitol politicians – much on display during this election year – is that they finally balanced the state budget after years of deficits.

Gov. Jerry Brown is especially prone to making the claim, particularly when he grants audiences, as he often does, to out-of-state journalists who don’t know better.

It simply isn’t true, or at least isn’t when one looks at the state’s finances holistically, rather than piecemeal.

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