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California is facing a record $68 billion budget deficit, state officials announced Thursday, forcing hard choices for Democratic Gov. Gavin Newsom in his final term as he works to build his national profile.
FYI, Wyoming and North Dakota have larger deficits, just they reached those levels before so it's no longer sensational newsworthy. And lets not forget just 2 years ago it was Texas in the news for having a record deficit. Every years some state will top their previous high deficit and it becomes news.
FYI, Wyoming and North Dakota have larger deficits, just they reached those levels before so it's no longer sensational newsworthy. And let's not forget just 2 years ago it was Texas in the news for having a record deficit. Every years some state will top their previous high deficit and it becomes news.
Not sure if you are way confused or trying a little snow-job. In reverse order.
1. Two years ago TX closed the books with a $725MM surplus before federal covid bailout monies. The Comptroller had predicted a shortfall but he was way, way wrong.
2. No way no how do either WY or ND have larger deficits than CA as both WY and ND both closed FY 2023 with surpluses.
Just like TX, WY and ND, CA is just a projected deficit. The article even touched on (although I'm sure it's overlooked by news organizations) that they have reserve funds for this and they can cut spending. Many states play the horrid deficit game to sway spending in the upcoming years. Often it would be real if unchecked, but as we see all the time, things have a way of changing quickly when it becomes news. Remember, some states start the budget process by including every item everyone wants even though it's a 1,000 times the size of their previous budget. If it makes the news the first day it looks bad for the state but heck of a great headline. Come a month later when trimming took place, the budget story becomes ho-hum.
Just like TX, WY and ND, CA is just a projected deficit. The article even touched on (although I'm sure it's overlooked by news organizations) that they have reserve funds for this and they can cut spending. Many states play the horrid deficit game to sway spending in the upcoming years. Often it would be real if unchecked, but as we see all the time, things have a way of changing quickly when it becomes news. Remember, some states start the budget process by including every item everyone wants even though it's a 1,000 times the size of their previous budget. If it makes the news the first day it looks bad for the state but heck of a great headline. Come a month later when trimming took place, the budget story becomes ho-hum.
I'm not buying any of what you are selling. For one no state proposes a following year budget of a 1,000x.
FYI, Wyoming and North Dakota have larger deficits, just they reached those levels before so it's no longer sensational newsworthy. And lets not forget just 2 years ago it was Texas in the news for having a record deficit. Every years some state will top their previous high deficit and it becomes news.
It may be a big deficit, but as a Californian myself I can go to sleep at night knowing not a single penny of that $68B was squandered or spent inappropriately.
FYI, Wyoming and North Dakota have larger deficits, just they reached those levels before so it's no longer sensational newsworthy. And lets not forget just 2 years ago it was Texas in the news for having a record deficit. Every years some state will top their previous high deficit and it becomes news.
Did WY and ND have huge budget surpluses before their current governors, though? That's what CA is dealing with.
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