FISCAL CHALLENGE

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California Gov turns to European austerity

NEW YORK | “Cutting alone really doesn’t do it, and that’s why I’m linking the serious budget reductions — real increase to austerity — with a plea to the voters: please increase taxes temporarily on the most affluent and everyone else with a quarter of a cent sales tax,” California governor Jerry Brown said in releasing his $91 billion general fund budget plan this week. These are not easy days for…