State Controller John Chiang says February revenues came in about three percent below those in Governor Jerry Brown's budget proposal. Chiang says that's largely because the state sent out a lot of early tax refunds last month. Governor Brown says change is to be expected:
BROWN: "We try to make the best judgment we can, but we live in the global economy, we live in the American economy, and by May it could be a little better or a little worse; by November the same thing. We live in a dynamic economy. It's not like counting peas in a pod."