By Nicole Nixon | Sacramento Bee
California lawmakers and Gov. Gavin Newsom are looking at a $2 billion deficit ahead of the next fiscal year, according to a report released Wednesday by the nonpartisan Legislative Analyst’s Office. It’s a dramatic improvement over last year’s budget picture, when the LAO initially projected a $68 billion shortfall.
Lawmakers and Newsom took early action to trim spending, shrinking the deficit to about $47 billion for the current fiscal year. The LAO described the budget picture as “roughly balanced.” The turnaround is driven by a budget approved earlier this year, which cut $11 billion in spending and temporary revenue increases of $5.5 billion.
“While the budget picture is fair for the upcoming year, our outlook suggests that the state faces double‑digit operating deficits in the years to come,” the report reads.
Read more at: Sacramento Bee
3 Comments
Please everyone read the full calmatters article!!!
Somehow the Joy’s of “only” a 2 Billion deficit sounds like,another adventure of candy coating and kicking the problem into after Gavin’s term is over.
How do the blithering loonies think revenue will go up when large companies are fleeing and going out of business?
Guess who they think will go without service or cough up more fees or taxes?
And the nerve to blame Trump ….for the disaster they created !!
Gavin and his cohorts should try a career in the real world with an average family income managing their own household money rather than mismanaging our collective tax dollars.
If overspending and overspending more doesn’t wake those who ALWAYS vote incumbent as long as they are democrats we can look forward to even an worse quality of life than we could imagine.
Spending without accountability has got to STOP. Pet projects that only serve a few take away from the average resident.
California’s elected have voted as if they think it is okay to spend all the mortgage or rent money for a one day Halloween party without thinking how they will pay for next weeks groceries!!
Here’s a thought: Perhaps their homes should be sold to make up the deficit… maybe then they would understand how to get shelter built for homeless rather than providing upgrade dollars for consultant homes!
As business after business closes or leaves California… EVERY ELECTED should be held accountable for EACH and EVERY vote they cast and the impact those votes make on the next generation!!
Do we need to remind elected that the Easter Bunny will not bring them golden eggs?
Which services do you miss most? Quality education/ Adequate Park & Recreation/ inflation reduction?
From a surplus to a deficit. Thanks Gavin Newscum and the idiots that kept him in office. A big middle finger to you all for destroying Californina even worse than ever before. Please stop voting you pinecone. You have extremely poor decision making skills and should be euthanized