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AP Photo/Rich Pedroncelli

Jerry Brown: California Faces First Deficit Since 2012

Gov. Jerry Brown warned this week that despite record economic growth, California’s $122.8 billion budget will suffer its first deficit since 2012 due to spending growing twice as fast as the economy.

Gordon Charlop

Stock Market Tumble: Dow Jones Falls 500 Points in One Day

The Dow Jones industrial average has plunged more than 530 points and is in a correction amid a global sell-off sparked by fears about China’s slowing economy. Oil tumbled below $40 per barrel for the first time since the financial crisis.