By Angelina Martin, includes “The record-breaking $262.6 billion budget includes a massive surplus of about $80 billion … The state’s $7.8 billion Rainy Day Fund was withdrawn in 2020 to plug a deficit which never materialized. ‘It made sense to dip into our savings when we thought the pandemic budget deficit would be over $50 billion. Unlike the Feds, the state can’t carry a budget deficit. We have to balance the budget,’ Flora said.”