[psjones]

Bingo, you nailed it, it’s most likely due to non
existent realized capital gains that Ca will be
seeing a deficit. Tech stocks had a great run in
2020, but a horrible 2022...Some tech stocks down
as much as 60 percent or more.

[deek69]

https://www.usdebtclock.org/state-debt-clocks/state-of-california-debt-clock.html

[DAC21]

The elephant in the room is that California’s State Employee pension fund is 170 billion under funded. That is of July. With the continued market slaughter surely it is now more.