Posted on 12/07/2023 5:52:57 PM PST by ChicagoConservative27
SACRAMENTO, Calif. (AP) — California is facing a record $68 billion budget deficit, state officials announced Thursday, forcing hard choices for Democratic Gov. Gavin Newsom in his final term as he works to build his national profile.
The nation's most populous state — with an economy that is the fifth largest in the world — has been struggling since last year because of the rising prices of most goods and services and how the U.S. government has been trying to control it.
It is now much more expensive for people and businesses to borrow money, meaning fewer people are buying homes and fewer businesses are hiring workers. That is leading to fewer tax collections for the state.
(Excerpt) Read more at yahoo.com ...
They have plenty of money. They just have to extract it from taxpayer pockets.
The last people who should be in charge of budgets or finance are libtards
So...reparations then??
They need to change the tax code in California. Boom and bust cycle.
Ain’t socialism grand
Our Speaker of the State Assembly isn't really a liberal, he's a Mexican farmworker, a group of people famous for being able to handle billions of dollars and manage 21st century economies.
Here's our man!
Robert Rivas, "1st generation" American, college graduate and all around smarty pants!
Should turn out real gud. Or bueno, I guess.
That’s ridiculous
If it wasn’t for Gavin it would have been so much worse-the media.
Maryland just announced they expect a 3.3 billion deficit as well
We are very lucky Newsom does not have money printing machine.
Maine is looking at being $270 millin in the black because we got so much ARPA money we could not spend it fast enough.
Well the Federal tax payers will just have to bail them out. What other options are there?
Pffft 68 billion is nothing compared to 30 plus trillion for the feds total debt or around 2 trillion for the fed deficit.
CA needs a climate tax. It can be added to their vehicle registration fees. Should only be a few hundred more per year.
lol...
In “unrelated” news California has 2.8 million illegal aliens (surely under reported) and has budgeted 30 billion in welfare spending for 2023/24. Up 30% from 2022/23.
Newsom, the idiot, hasn’t figured out why revenue go down when corporations and rich folks leave the state.
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