California spent 6 years building up the largest rainy day fund in American history, $21 billion. It could be gone by the summer #COVID19 - https://latimes.com/california/story/2020-03-25/california-20-billion-budget-reserve-may-get-wiped-out-by-coronavirus-crisisβ¦
Just issue revenue anticipated warrants and have the Fed buy them. No more need for rainy day fund idiocy that just wastes possible revenue in normal times.