Posted on 01/10/2023 7:13:30 AM PST by Oldeconomybuyer
SACRAMENTO, Calif. (AP) — Days after the start of his second term, California Gov. Gavin Newsom on Tuesday will announce his plan to cover a multi-billion dollar budget deficit in what could signal the end of a decade’s worth of economic growth in the nation’s most populous state.
Newsom, a Democrat, has been warning of a potential budget shortfall for more than a year, and the Legislative Analyst’s Office said last in November the shortfall could be around $25 billion.
Dealing with a deficit will be a change of pace for the state, where spending has more than doubled in the 10 years since the last recession. Officials have launched a dizzying amount of new programs and services — including committing to pay for all 4-year-olds to go to kindergarten and agreeing to cover the health expenses of all low-income immigrants who are living in the country without legal permission.
Assemblymember Phil Ting, a Democrat from San Francisco and chair of the Assembly Budget Committee, said he thinks the deficit can be easily managed by state officials, saying he thinks the state is in for a “softer landing” than it had at the start of the last recession in the late 2000s.
“What we expect (on Tuesday) is a vision of how we protect all the amazing things we funded,” Ting said. “Things are definitely slowing down.”
(Excerpt) Read more at apnews.com ...
Gee the 1/4 million reparation is off? No just raise taxes on the citizens to pay for it along with everything else.
Gavin Newsom has been given everything in his life from his jobs to the homes he has lived in. He is supported by one of the five families that control California politics.
In return he has wrecked the state and made life miserable for the people but made insiders very wealthy.
Kill Jerry’s electric train.
WHAAATTTT??? No more free money from Uncle Gavin? Bummer...
Hard to run for prez with record high homeless, illegals, drug deaths, highest population of welfare free-loaders and now, incompetent management of the state budget.
But go ahead, Gavin, run more ads promoting sanctuary for gender mutilation!!
A belt-tightening around Newsom’s neck would be a good start, says Judge Roy Bean.
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