Gov. Jerry Brown delivered an upbeat assessment of California's "comeback" in his annual State of the State address Wednesday, but he emphasized the need to "pay down our debts and remember the lessons of history" rather than undertake major spending initiatives. "What a comeback it is: a million new jobs since 2010, a budgetary surplus in the billions and a minimum wage rising to $10 an hour," Brown told state legislators in a speech that was as much a rollout for his 2014 re-election campaign as it was an evaluation of the state's fiscal health. The speech echoed many of the themes the governor unveiled earlier this month, when he delivered a $107 billion spending plan for next year that calls for paying down $11 billion of the state's debt and banking a $1.6 billion rainy-day fund. The address effectively serves to "kick off his re-election," said Hoover Institution fellow Bill Whalen, a former adviser to Republican Gov. Pete Wilson. Because between that and his budget, it sets off his priorities," emphasizing "economic growth, how we're creating jobs and how we can't waste our opportunities. GOP foes On Tuesday, Neel Kashkari, a moderate Republican who ran the federal bailout for financial institutions under the Bush and Obama administrations, said he would run for governor on a platform focusing on "jobs and education - that's it." Republican Assemblyman Tim Donnelly of Twin Peaks (San Bernardino County), a Tea Party favorite who is also running for governor, said Wednesday that he agreed with Brown that "we are in a drought," but he called it "an economic drought created by oppressive taxes."