Posted on 01/07/2025 5:53:42 AM PST by ChicagoConservative27
California Gov. Gavin Newsom (D) claimed that the state would have a modest budget surplus next year — though he still planned to raid the “rainy day” emergency fund, and warned of President-elect Donald Trump’s spending cuts.
Last year, Newsom came under intense criticism after turning what had once been a $100 billion surplus — thanks, in part, to coronavirus relief money from the Biden-Harris administration — into a nearly $50 billion deficit. Now, due to rising revenues from wealthy taxpayers, Newsom says there will be a surplus. But he warned that the surplus could be in danger from Trump’s spending cuts, fueled by Elon Musk and Vivek Ramaswamy’s efforts in the “Department of Government Efficiency” (DOGE), which plans to reduce trillions in federal waste.
The San Francisco Chronicle noted:
The budget outlook Newsom describes is a major turnaround from the $47 billion deficit last year and the $32 billion shortfall the year before. Newsom and the nonpartisan Legislative Analyst’s Office, which makes budget projections for the Legislature, both attribute the improvement to stock market gains by the state’s wealthiest taxpayers and cuts in previous years.
But, Newsom cautioned, the steep cuts to federal government spending that Trump has promised could darken the bright picture he painted of California’s economy. Newsom said the incoming president could impact California’s budget depending on how his trade, tariff and immigration policies play out. That happened last time Trump was in office, Newsom said.
(Excerpt) Read more at breitbart.com ...
Basically he warns if the Fed Gov stops pumping money into California they will be in a deficit.
Total liar about the state surplus.
Open the books to the public!
Let’s RUMBLE!
He knows his budget will toast again next year and he is just trying to shift blame for what will be a dismal performance to the federal government. It’s the start of his next presidential campaign.
His current term ends on January 4, 2027, he’s going to spend like it’s 1999….
I was dreamin’ when I wrote this
Forgive me if it goes astray
But when I woke up this morning
Could have sworn it was judgement day
The sky was all purple
There were people runnin’ everywhere
Tryin’ to run from the destruction
You know I didn’t even care
‘Cause they say
2000, zero-zero, party over, oops, out of time
So tonight, I’m gonna party like it’s 1999
The state of California is about $600,000,000,000 in debt.
An excellent reason to support them.
California living on federal welfare
Cut it all off, shut this liar down
DOGE Spending Cuts = Politicians will have to pay for their own liquor ,LOL
If the state is so flush they won’t be needing federal dollars for their vanity rail project.
Last year, Newsom came under intense criticism after turning what had once been a $100 billion surplus — thanks, in part, to coronavirus relief money from the Biden-Harris administration — into a nearly $50 billion deficit. Now, due to rising revenues from wealthy taxpayers, Newsom says there will be a surplus. But he warned that the surplus could be in danger from Trump’s spending cuts, fueled by Elon Musk and Vivek Ramaswamy’s efforts in the “Department of Government Efficiency” (DOGE), which plans to reduce trillions in federal waste.
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will newscum be able to add federal emergency funding for more forest fires this year?
I doubt he had a surplus.
Some verifiable reference:
$620,253,737,030 and rising about $1K per second
State of California Debt Clock
< On any P&L statement, the state is a debtor, in a nation which is a debtor. Newsom is trying -- with words -- to obscure the numbers.
Notice NOWHERE in the California Democrats' rhetoric is there any mention of the state's aggregate debt.
stock market gains by the state’s wealthiest taxpayers
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California “soak the rich” Taxes made it very dependent of the rich. If they leave, CA is bankrupt.
This guy is the picture of the anti christ
And how much federal money do they get? Maybe send the surplus back to the feds.
So who audits a liar like this?
Whew. Now he can finish their Bakersfield to Merced 100 billion dollar bullet train.
Surplus my butt. LIAR
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Obviously they need to raise taxes quickly.
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