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Government watchdog estimates $26 billion deficit as California enters recession


Geee

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The Center Square

The California Legislative Analyst’s Office estimates the state will have a $26 billion revenue shortfall for the 2022-2023 fiscal year and announced the state entered into a recession in March of 2023. The news comes the day after Governor Gavin Newsom defended Democrats' economic record in a nationally televised debate. State Republicans blame Newsom and California Democrats for nearly doubling the state’s budget over the last six years and called for reductions in government programs to protect critical government functions from severe budget cuts. 

“Despite all warnings that it was unsustainable, the Majority party has increased state spending by $116 billion over the last six years, nearly doubling the general fund budget in that short time,” said State Sen. Roger Niello, R–Fair Oaks, in a public statement. “Hopefully, the majority will see it is time for a more realistic budget strategy, instead of throwing money at a laundry list of projects that sounds nice on the national television debate stage.”

The LAO estimates that if spending remains unchanged, the state is likely to have a $26 billion shortfall for 2022-2023, $19.1 billion for 2023-2024, and $13.3 billion for 2024-2025, totaling a $58 billion shortfall over the next three years. :snip:

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56 minutes ago, Geee said:
The Center Square

The California Legislative Analyst’s Office estimates the state will have a $26 billion revenue shortfall for the 2022-2023 fiscal year and announced the state entered into a recession in March of 2023. The news comes the day after Governor Gavin Newsom defended Democrats' economic record in a nationally televised debate. State Republicans blame Newsom and California Democrats for nearly doubling the state’s budget over the last six years and called for reductions in government programs to protect critical government functions from severe budget cuts.

Coming Soon, To A State Near You.

To many people with no  skin in the game, wanting Stuff. To many people who "think" the pet project is in dire need of State Funding.

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11 minutes ago, Valin said:

To many people with no  skin in the game, wanting Stuff. To many people who "think" the pet project is in dire need of State Funding.

Or, as I call them, the 'gimme' people.

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