You are terribly misinformed. California has a minor surplus due solely to large tax increases voted in by the masses of unsuccessful liberals upon the successful. Tax revenue is flat otherwise.

The fantastic recovery of the stock market is largely attributable to the Fed's Quantitative Easing and record low interest rates. Investors are all but forced into stocks to stay ahead of inflation. It's very clever - one arm of government issues $1 TRILLION of Treasury debt and another arm of government purchases it.

Companies are struggling, but slowly recovering in spite of incredibly burdensome regulation and choking taxation. Imagine where this country could be if the president had a clue about economics.