Publis, that link you posted is 6 years old, from Nov. 2010, when the whole country was still coming out of the hyuuuuge Bush2 recession. 

Here is an article from June of this year, from the Sacramento Bee, that shows they are no where near where they were back then. In fact, they should have a big surplus this year.

http://www.sacbee.com/news/politics-government/capitol-alert/article86302827.html

IN GENERAL....economically (booms & busts) .....the old saying is....

"As California goes, so goes the nation." Other states claim the same saying too, but I think it's more fitting for CA.