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Posted on 05/09/2025 5:49:53 AM PDT by ChicagoConservative27
California Governor Gavin Newsom and state lawmakers are bracing for a $10 billion budget shortfall — even before federal spending cuts undertaken by the Trump administration and the Department of Government Efficiency (DOGE).
Newsom and the Democrats took a near-$100 billion surplus in 2022– partly fueled by federal coronavirus funds under the Biden administration — to a near-$50 billion deficit in 2024.
Earlier this year, the state was forced to borrow $6.2 billion to fund Medi-Cal, the state’s Medicaid program, which Newsom and his party expanded to cover illegal aliens.
Now, according to Politico, Newsom and the Democrats are bracing for even more deficits in the near future:
Gov. Gavin Newsom is likely staring down a $10 billion budget hole that could deepen to $20 billion or more.
President Donald Trump’s tariff policies, a Medi-Cal shortfall and delayed tax filings from Los Angeles-area wildfire victims are putting the state in a worse economic situation than the California governor previously anticipated — and that’s without taking into account expected federal spending cuts.
…
In early January, the governor’s Department of Finance projected the state would see a small surplus this year. But Newsom and legislative leaders are now flying blind into budget crunch time, as tariffs and a lack of tax receipts — including those from some of the wealthiest Californians — are stoking financial uncertainty
(Excerpt) Read more at breitbart.com ...
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He’s supposed to be a leading candidate for President. I don’t get it. A failed governor of a failed state. He has nice hair. That’s it.
This PLANNED destruction left him and Pelosi
multimillionaires, if not billionaires.
Californians chose him, and the misplaced water,
and secondary fires.
STOP FUNDING ILLEGALS. I read that the CA legislature wanted to give ILLEGALS $200,000 so they could BUY A HOUSE. STOP IT.
Imported illegals don’t come cheap!
Which is it, 10 or 20 billion. Asking for a friend🤣
I don’t get it. This is a Democrat utopia. All they have to do is raise taxes on the rich and make them pay their fair share.
Despite the “shortfall”, I bet all of the “favored consultants” got paid and all of the local politicans received their kickbacks — I’m sorry, I meant “honoraria” — for their “work” on Newsom the Vile’s bullet train to nowhere wet dream.
Yep, simple fix. Anyone earning over $500k per year has to pay a 50% tax rate.
Gavin Nobrain’s plan to counter this will probably be to spend more tax payer money on inane projects like giving more benefits to illegal aliens or spending more money on “Green Energy” programs.
The democrat plan is always to tax the billionaires, but how many of the centi-billionaires are left in California? A number of the highest profile ones have left in recent years, and most of the rest have multiple homes. They could probably switch their legal residency very fast, but I suppose they would have to ration days spent in Cali.
So the dems will make smoke about taxing billionaires while sticking it to middle and upper-middle class taxpayers — the ones who haven’t yet finished packing for their own moves or who are trapped by their jobs — and any businesses not on the protected list of pet industries Newsom wants to keep. The film industry has been moving out of California for years. Big tech could jump quickly. Mining, oil and natural gas, and agriculture can’t move, but California is already at war with those sectors. Maybe they can get $10 billion out of the solar panel installers, let utilities pass the costs along to ratepayers, and then the politicians could blame evil utility companies.
I know: remove the tax exempt status of the universities and go after their endowments.
The $10-$20 Billion that Newsom gives to Illegal Aliens ?
CALIF MEDICAID has ‘down payments’ in their structure.
ALSO GROCERIES, ETC
The deficit is so big they can’t estimate it within $10 billion.
FTA——Prez-wannabe Newsom and the state’s Democrats took a $100 billion surplus in 2022 –
fueled by Biden’s ill conceived coronavirus funding — to a near-$50 billion deficit in 2024.
Now, according to Politico, Newsom and the Dems are bracing for even more deficits:
staring down a $10B budget hole that could deepen to $20 billion....... or more.
“Yep, simple fix. Anyone earning over $500k per year has to pay a 50% tax rate.”
Doing that is taking the seed money for business and employment and giving to the govt to waste.
Newsome has brought on Stacey Abrams to see “how she does it” going from $100 net worth to over $2B on the federal government dime.
California! Bend over and grab your ankles cuz guess who's coming after your butt with his tax ax...
He's like a snake. He'll pretend to be a moderate so he'll get in the White House.
Why doesn’t he ask his Aunt Nancy how she invests her money? California would be flush with cash.
/s /s /s
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