California Faces Budget Deficit of $22.5B, Governor Says
11th January 2023
California faces a projected budget deficit of $22.5 billion for the coming fiscal year, Gov. Gavin Newsom announced Tuesday, just days into his second term. It’s a sharp turnaround from last year’s $98 billion surplus.
Funny thing how Democrats can turn a surplus into a deficit in less than a year without any particular effort.
UPDATE: California Faces First Budget Gap Since 2018 as Stock Market Hits Taxes (Bloomberg) But we can’t cut taxes, no siree.