Posted on 05/15/2024 6:06:25 AM PDT by ChicagoConservative27
California Gov. Gavin Newsom (D) has turned to climate change to explain how the state went from a $100 billion surplus two years ago to a $28 billion deficit, which would have been even higher prior to drastic actions last month.
As CalMatters noted, deficit estimates ranged from $38 billion to $73 billion:
That prompted Newsom and the Legislature to take “early action” last month to reduce the deficit by more than $17 billion ahead of the regular budget process. Their plan included some program cuts, but mostly relied on new revenue, internal borrowing and funding delays and shifts for savings, earning criticism from Republican lawmakers for being “gimmicky” and “balanced on hopes and prayers.”
…
Why does California have such a financial problem? The reasons go back two years. A downturn in the stock market in 2022 hit capital gains, while high inflation pinched the housing market and the tech industry pulled back on initial public offerings as investments dropped. Those blows have continued as wealthy taxpayers carried forward their losses.
But the drops in revenue were not fully reflected in the spending plan that Newsom and legislators adopted last summer. Severe winter storms prompted the federal government to delay the income tax filing deadline for most Californians from April until November, and the state followed suit, giving an incomplete picture during the budget process. The state committed to funding programs that it subsequently realized it cannot afford.
(Excerpt) Read more at breitbart.com ...
I guess if he fell down the stairs and broke his leg, it would be because of ‘climate change’
Wasn’t he supposed to be the next president or something?
Actually, what can really raise temperatures (and tempers) is the Dems continual emissions of hot air and BS!
Are they burning the money?
Climate Change reduces democrat voters IQ’s. Why else would democrat voters vote for people like Adam Shitt, AOC and Newscum.
Friggin’ politicians. Guns alone murder people and Climate Change spends every tax dollar stolen from the American people.
Indeed, I have noticed climate change—it’s getting colder. The last two winters in Southern California were the coldest of my lifetime, which began when Sabres were dogfighting with MiGs over Pyongyang. Last year, we even had snow falling here in North Orange County.
The state committed to funding programs that it subsequently realized it cannot afford.
It’s still the same California Jake
Let’s go Brandon, I mean Newsom. 👍
No. It’s white privilege.
Didn’t Gruesome also blame having to raise the minumum wage on fast food joint workers complaining that they couldn’t even afford to eat at the joints where they “worked”?
♫ And the farmer hauled another load away. ♪
Is there anything that old Climate Change can’t do? Truly an all in one miracle excuse.
NO, Newsom, IT’S YOU !!!
My understanding is that among even the most rabid Human-caused Global Warming advocates the bad effects haven’t occurred yet.
The global mean temperature today is 2.43 °F (1.35 °C) above the pre-industrial average (1850-1900).
Can these people highlight ANY damage that has occurred before or now, not tomorrow, since 1850?
Perfect comment, my FRiend!
My "red" state is, and has been financially secure.
(We could use a high speed rail, however, but only to give free rides to incoming Californians BACK to California.)
We don't hear them whining.
Just surprised he did not blame Trump...
It’s Satan except we don’t believe in God so Climate Change. Conservatives are the cause of Climate Change because they like to work and own businesses, farms and property, any they like to eat meat and own guns.
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