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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...

IBM, one of the nation’s largest technology employers, announced Monday that it plans to invest $150 billion in the United States over the next five years, adding that the company is “focused on American jobs and manufacturing.” IBM revealed in a Monday press release that it “plans to invest $150 billion in America over the next five years to fuel the economy and to accelerate its role as the global leader in computing.” “This includes an investment of more than $30 billion in research and development to advance and continue IBM’s American manufacturing of mainframe and quantum computers,” the company...

CBS’ parent company, Paramount Global, and President Donald Trump are set to begin mediation in his $20 billion election interference lawsuit, Fox News Digital has confirmed. Trump is seeking $20 billion in a lawsuit against CBS, alleging election interference over its handling of a "60 Minutes" interview last year with Vice President Kamala Harris. The president has accused CBS of aiding his 2024 Democratic opponent through deceptive editing one month before they faced off in the presidential election. The saga began when Harris was widely mocked for a "word salad" answer she gave to "60 Minutes" correspondent Bill Whitaker during...

Indian government sources told Reuters on Tuesday that New Delhi is considering $23 billion in tariff reductions on U.S. imports to stave off President Donald Trump’s threatened reciprocal tariffs, which will affect at least $66 billion in Indian exports if they take effect on April 2. According to Reuters’ sources, the Indian government ran the numbers and concluded it will fare much better by lowering its tariffs, even though it will lose a great deal of income: In an internal analysis, New Delhi estimated such reciprocal tariffs would hit 87% of its total exports to the United States worth $66...

The City of Los Angeles is bracing for layoffs of thousands of municipal employees due to a budget crisis that is said to be “inevitable,” as the city is reeling from recent wildfires and still preparing to host the 2028 Summer Olympics. The Los Angeles Times reported: L.A.’s financial problems exploded into a full-blown crisis on Wednesday, with the city’s top budget official announcing that next year’s shortfall is now just shy of $1 billion, making layoffs “nearly inevitable.” City Administrative Officer Matt Szabo advised the City Council to focus on cost-cutting measures, including a potential reduction in the size...

More than a million migrants benefited from the universal credit welfare scheme in Britain at a cost to the taxpayer of £7.6 billion in 2023 alone, an analysis of official data has found. Projections based on Department for Work and Pensions (DWP) data conducted by the Centre for Migration Control (CMC) have estimated that around 1,158,000 foreign nationals received universal credit, a monthly welfare subsidy paid to working-age households with low incomes, to mitigate the cost of housing, childcare, and other expenses. Migrants are eligible for the same benefits as native Britons once they are granted either refugee status or...

Rest easy, everyone — Obamacare has completely taken care of the American health care system. It's done. It's completely fixed. In fact, it's so fixed that Americans had to borrow $74 billion last year to get the medical care they needed. From CBS News: Health care is so expensive that 31 million U.S. adults, or 12%, had to borrow a total of $74 billion last year to obtain medical care, new data shows. That includes people with health insurance, making such numbers even more troubling. Yes, even health insurance isn't enough to keep people from going into debt.

New York Gov. Kathy Hochul’s (D) administration has faced lawsuits alleging it rigged the bidding process for the state’s controversial overhaul of a $9 billion homecare program. A December lawsuit alleged that the powerful healthcare union 1199 Service Employees International Union (SEIU) helped Public Partnerships LLC secure a multi-million dollar contract to take care of payment services for the Consumer Directed Personal Assistance Program (CDPAP). Several lawsuits have sought to unravel Hochul’s overhaul of CDPAP, two of which alleged a rigged bidding process by the governor’s administration.

California Gov. Gavin Newsom (D) sent a letter Friday to Congress asking for $40 billion in funding for fire relief — two weeks after signing $50 million in spending to fight the Trump administration on immigration and other policies. As Breitbart News reported, “Both bills were passed after a special legislative session called by Newsom after the election to prepare California to lead the opposition to the second Trump administration. Newsom and the Democrat-controlled legislature reached a deal to fund the anti-Trump effort even as the Palisades Fire and Eaton Fire were still smoldering in Los Angeles.”

No new water storage infrastructure has been built in California, more than a decade after voters approved a $7.5 billion water bond in Proposition 1 of 2014. The San Jose Mercury-News reported Wednesday that officials are deciding what to do with nearly half a billion dollars of available cash after the “collapse” of a project to expand the Los Vaqueros Reservoir, which is east of San Francisco. Other projects have received funding for planning and permitting, but nothing has been built. The newspaper noted: A majority of the seven board members of the California Water Commission, a state agency that...

California, which failed to prevent the spread of wildfires in Los Angeles last month and is struggling to repair the damage, is set to spend nearly $10 billion on health care for illegal aliens, according to a nonpartisan state analyst. Fox News reported Thursday: Guadalupe Manriquez, the California Department of Finance program budget manager, told the state Assembly Budget Committee Monday the state is “spending $9.5 billion total funds” to “cover undocumented individuals in Medi-Cal” in the current year.

FIRST ON FOX: President Trump scored a victory on Tuesday when a judge deemed CBS and Paramount’s motion to dismiss "moot" as his election interference and news distortion lawsuit moves forward. Trump filed a $10 billion lawsuit against CBS News in October, alleging election interference over its handling of a "60 Minutes" interview, accusing the network of aiding his Democrat rival Vice President Kamala Harris through deceptive editing one month before the election. Last week, Trump’s legal team amended the original lawsuit after the release of the unedited transcript and raw footage of its controversial "60 Minutes" interview. The lawsuit...

President Donald Trump’s administration halted the $5 billion Biden electric vehicle charging program, which has been criticized for its poor production of charging stations. Emily Biondi, the associate administrator for the Office of Planning, Environment, and Realty, in a letter to the state Department of Transportation directors on Thursday, said the administration has suspended the National Electric Vehicle Infrastructure (NEVI) program. “The new leadership of the Department of Transportation (U.S. DOT) has decided to review the policies underlying the implementation of the NEVI Formula Program. Accordingly, the current NEVI Formula Program Guidance dated June 11, 2024, and all prior versions...

Elon Musk, director of the new Department of Government Efficiency (DOGE), and his staff are sleeping in the federal personnel office to save taxpayers about $1 billion a day, a person familiar with the situation told the New York Times. Sleeping in office buildings is not unusual for Musk, who deployed the same cost-saving measure at Twitter and Tesla. “Very few in the bureaucracy actually work the weekend, so it’s like the opposing team just leaves the field for 2 days!” Musk posted on X over the weekend. “Working the weekend is a superpower.”

Crown Prince of Saudi Arabia Mohammed bin Salman told President Donald Trump in a phone call his country hoped to invest at least $600 billion in American ventures in the next four years, the Saudi Foreign Ministry confirmed on Thursday. Mohammed bin Salman held a congratulatory phone call with Trump and separately spoke to Secretary of State Marco Rubio on Wednesday, celebrating the “strength of the U.S.-Saudi partnership in this time of momentous change.” The Crown Prince is widely considered the de facto ruler of Saudi Arabia representing the interests of the elderly King Salman. The optimism and hopes for...

Massachusetts must give $2.1 billion to the federal government due to an apparent mix up with federal pandemic funds. Officials said the state will be required to pay the sum over the next ten years after former Gov. Charlie Baker’s (R) administration “mistakenly” used the money to cover unemployment benefits, WHDH reported Monday. Baker was succeeded by Gov. Maura Healey (D) in 2023 “and her deputies unveiled details of a settlement they reached with the outgoing Biden administration Friday in which the Bay State will repay most but not all of the amount it owed due to the error committed...

California Democrats have written to outgoing Secretary of Transportation Pete Buttigieg to ask for more than half a billion dollars in funding for an ailing high-speed rail project that President-elect Donald Trump defunded in 2019. As Breitbart News reported, Trump withheld $1 billion in funding from the project after Gov. Gavin Newsom (D) canceled the original project. Newsom had explained to the state legislature that the original plan for a Los Angeles-to-San Francisco “bullet” train “would cost too much and, respectfully, would take too long.” Trump then demanded the state refund the money federal taxpayers had given it — applying...

Kamala Harris spent $1.5 billion on her failed presidential campaign, hemorrhaging on average $100 million per week — proving that she and her claque are as bad at managing money as they are at generating coherent policy ideas. The big-ticket items: - $900,000 to advertise on the outside screen of the Las Vegas Sphere (Harris ended up losing Nevada). - A cool million to Oprah Winfrey’s Harpo Productions for Harris’ splashy townhall event with the media queen. - Ten million for a series of Gen X-bait conferences with the likes of Jon Bon Jovi (Harris ended up losing Gen X)....

With the news that Kamala Harris's campaign somehow ended up $20 million in debt after raising over $1 billion in donations, critics have started to wonder: how on earth did her campaign spend that billion dollars? Our crack investigative team at the Bee has gone to work and can now share a line-by-line breakdown of where all that money went: $70 million for accent coaches: In retrospect, probably shouldn't have used Foghorn Leghorn. $500,000 for Lizzo's catering: That's a lot of hoagies. $70 million for surgery to re-attach Tim Walz's arms every time they flew off: Not bad, honestly. $10...

Kamala Harris’s speech conceding the presidential race to Donald Trump was a doomed effort to stay atop the Democratic Party after she led it to crushing defeat. After her loss became clear on Tuesday, it took 18 hours to compose the rhetorical flights of fancy she wanted, supposedly to inspire hope amid a Trumpian darkness closing in on her weeping followers.