There is no California surplus

The premiums state workers and retired public employees pay for CalPERS health insurance are projected to go up 7.2 percent on average next year, with premiums for specific plans increasing as much as 24 percent, according to preliminary estimates published Tuesday.
The estimated increases, presented at a CalPERS board meeting, were the first public glimpse of the 2020 premiums, which take effect Jan. 1. The board approves final 2020 rates in June.“This is the first time the health plans see each others’ rates, which leads to some healthy negotiations,” CalPERS division chief Kim Malm told the board, suggesting companies might lower rates for competitive reasons after seeing the figures presented in public this week.

Whoever claims this government has spending power is nutty.  Right here, this threatens long term teachers payments.   This state, right now, if a chaotic fight for taxes wherever they can find them. Public sector employment growth stopped or slightly negative. The California public sector is over taxing some 15% of the US economy, but not just over taxing, but sudden, fiercely attacking taxpayers.  This is a bad news at the moment, but a known known.