Posted on 05/10/2024 2:15:44 PM PDT by ChicagoConservative27
California Gov. Gavin Newsom (D) on Friday announced a $44.9 billion deficit in his revised proposal for the 2024-2025 state budget, while proposing a series of cuts to close the spending gap.
The shortfall includes $27.6 billion detailed in his proposal, plus $17.3 billion in cuts that the State Legislature proactively instituted a few weeks ago.
The governor proposed a $288.1 billion topline budget figure, down from Newsom’s initial January proposal for a $291.5 billion budget. Although the total $44.9 billion deficit is higher than the $37.9 figure projected in January, Newsom’s revision involves withdrawing $4.2 billion from the state’s reserves — down from the $13.1 billion he initially recommended.
Newsom’s revised proposal seeks to close the spending gap through a series of cuts, including $15.2 billion in spending reductions and $14.8 billion by pausing planned program expansion. It would also slash $3 billion to improve efficiencies and borrow $7.5 billion.
(Excerpt) Read more at thehill.com ...
Government spending has absolutely nothing to do with tax revenue, so why bother with taxes at all?
The Green Scam and Illegals will eat your money and all you’ll have left is a big brown pile
But But.... record Tourism, which means record taxes coming in or something like that. Stick it greaseball clown.
Record departures.
How can a state operate with a deficit?
I understand the constitution gives the federal government the right to print legal counterfeit money, but that is not something a state can do.
Someone please explain.
Libtard Math
LOL- just a few years ago they were beating their chest over the surplus Kalifornia had....
start charging whatever remaining tourists you can find $10 for each pile of Sh*t they can slip and fall on
Why don’t they simply have a tax surcharge for being white? White privilege has to have cash value for taxation.
Wouldn't the $35B (est) squandered on the (cough, cough) "high speed" (hahahahaha) rail come in handy about now.
Hmmm?
Newsom sucks.
What’s the drain on financial resources Navin Gruesome?
Two few taxpayers, too many gimmees.
In before the CA FReepers brag about the weather and events and call your state a backwater hillbilly swamp.
Running out of other people’s money, how incredible amazing?
Every Single Time the libs encounter the wall of No More Money, because they can’t print it, have run out of gimmes from elsewhere, and the tax base has left...
... they then proceed to cut the few things people actually want as a blackmail technique. The corrupt money sinks and woke experiments *never* get touched, because corruption is how Dems get elected. Mess with that and the “community organizers” find another, more compliant, face.
When states run out of money they tell vendors to wait to get paid—fun for everyone.
;-)
And this stoopid mookabooker wants to someday be pres.
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