Newsom & California Face $68 Billion Deficit: Republican Warnings Prove True

[seafoam1 3,065]

Go Newsom!!! Go Biden!!!

 

California grapples with a historic budget deficit projected to reach $68 billion, posing formidable challenges for Governor Gavin Newsom and state lawmakers. The economic downturn, exacerbated by factors such as a stock market decline, extended tax deadlines due to winter storms, and job losses in the tech sector, has significantly impacted the state’s financial landscape.

As the nation’s most populous state faces tough decisions on spending cuts, tax implications, and safeguarding essential services, the deficit underscores the complexities of budgeting in the face of economic uncertainties and unforeseen challenges.

California faces a significant budget deficit, with estimates varying between $37.9 billion (by Governor Newsom) and $68 billion (Legislative Analyst’s Office). This deficit is attributed to factors like extended tax deadlines due to storms in early 2023 and economic challenges, including a declining stock market, high inflation, rising interest rates, and tech industry job losses.

Extended tax deadlines led to budget experts making higher-than-actual revenue estimates. The state’s reliance on taxes from high earners, influenced by stock market changes, further complicates budget forecasting. Two years ago, a $100 billion surplus was predicted, leading to increased spending on public schools and social services, but the economic downturn reversed the financial situation.

[weepaws 3,202]

They shouldn’t worry about governors in vehicles 

[RLLD 4,247]

Curb the social programs.    The parasites will just matriculate to some other locality where freebees are plentiful.  Simple solution.

[Voltaire 5,317]

I'm sure the money was well spent.

[Hardcore troubadour 15,486]

6 hours ago, seafoam1 said:

Go Newsom!!! Go Biden!!!

 

California grapples with a historic budget deficit projected to reach $68 billion, posing formidable challenges for Governor Gavin Newsom and state lawmakers. The economic downturn, exacerbated by factors such as a stock market decline, extended tax deadlines due to winter storms, and job losses in the tech sector, has significantly impacted the state’s financial landscape.

As the nation’s most populous state faces tough decisions on spending cuts, tax implications, and safeguarding essential services, the deficit underscores the complexities of budgeting in the face of economic uncertainties and unforeseen challenges.

California faces a significant budget deficit, with estimates varying between $37.9 billion (by Governor Newsom) and $68 billion (Legislative Analyst’s Office). This deficit is attributed to factors like extended tax deadlines due to storms in early 2023 and economic challenges, including a declining stock market, high inflation, rising interest rates, and tech industry job losses.

Extended tax deadlines led to budget experts making higher-than-actual revenue estimates. The state’s reliance on taxes from high earners, influenced by stock market changes, further complicates budget forecasting. Two years ago, a $100 billion surplus was predicted, leading to increased spending on public schools and social services, but the economic downturn reversed the financial situation.

Stock market decline? Huh? 

[squistion 2,216]

Meh!

Tim and I aren't going to lose any sleep over it. 

[Hardcore troubadour 15,486]

1 minute ago, squistion said:

Meh!

Tim and I aren't going to lose any sleep over it. 

As long as you guys are good. The people that will have their needed services cut will just have to deal with it I guess. Glad you’re ok. 

[MDC 7,471]

MAGAtards have a problem with budget deficits and cuts to “needed services” now?

[Hardcore troubadour 15,486]

People don’t understand the difference between a state having a deficit and the federal government having one. States debts have to be paid. Federal debt  can just be paid by printing more money. Such ignorance on display. 

[squistion 2,216]

1 minute ago, MDC said:

MAGAtards have a problem with budget deficits and cuts to “needed services” now?

Hilarious. You can't make this stuff up. 

[Dizkneelande 1,101]

5 minutes ago, MDC said:

MAGAtards have a problem with budget deficits and cuts to “needed services” now?

The Fed should be cut in half twice. There you go. 

[EternalShinyAndChrome 4,124]

This is awesome!  Kommiefornia needs to be taken down a peg or two and come back to reality where everyone else is living.  This Socialist Utopia dreaming has got to be put down...and hard.

[listen2me 23 1,873]

1 hour ago, squistion said:

Meh!

Tim and I aren't going to lose any sleep over it. 

Dems sure are a selfish bunch.  

[RLLD 4,247]

1 hour ago, EternalShinyAndChrome said:

This is awesome!  Kommiefornia needs to be taken down a peg or two and come back to reality where everyone else is living.  This Socialist Utopia dreaming has got to be put down...and hard.

I find no celebratory element to this.

They are purposely destroying that state.   Who is going to eventually have to unfock it?  The rest of us are. 

[Engorgeous George 2,331]

What about reparations and also health care for illegals?  Will those have a net positive or negative effect?  To me the answer seems more than obvious but some who allege they are much smarter as well as more formerly educated than me tell me that will prove a net benefit.

[Engorgeous George 2,331]

Bing Videos

[The Real timschochet 6,826]

11 minutes ago, Engorgeous George said:

What about reparations and also health care for illegals?  Will those have a net positive or negative effect?  To me the answer seems more than obvious but some who allege they are much smarter as well as more formerly educated than me tell me that will prove a net benefit.

1. Reparations is a non issue, won’t ever happen. 
2. Health insurance for undocumented immigrants will absolutely have a positive effect. 

[Engorgeous George 2,331]

1 minute ago, The Real timschochet said:

1. Reparations is a non issue, won’t ever happen. 
2. Health insurance for undocumented immigrants will absolutely have a positive effect. 

It will for Texas when Texas pays to put up a few billboards along the caravan route that Texas is closed by razor wire but California welcomes all with free health care and sanctuary cities which issue I.D., and of course tim schochet who will personally embrace them all and employ a few at below minimum wage. 

[iam90sbaby 2,618]

1 hour ago, The Real timschochet said:

1. Reparations is a non issue, won’t ever happen. 
2. Health insurance for undocumented immigrants will absolutely have a positive effect. 

Deportation is cheaper

[TheNewGirl 1,496]

1 hour ago, The Real timschochet said:

1. Reparations is a non issue, won’t ever happen. 
2. Health insurance for undocumented immigrants will absolutely have a positive effect. 

I know you listed #2 because of the influx of people in ER's and things like that. 

I was in the ER last Friday, and talked with a nurse there about their concerns. It's not really undocumented concerns here where I am - it's old people. They are building old folks homes and long term care homes every where, but they aren't expanding hospitals. Now, while undocumented folks will use ERs when they can get preventative care, many won't - and we know this too. Hospitals, nurses, doctors are all in incredible short supply - it's scary. Esp after Covid and how many got fired for not following mandates, treatment from patients, pay, etc. 

people of a certain age will almost end up in an ER at some point or another. Needing immediate care (strokes, heart attacks, etc) isn't readily available like it needs to be. 

I think your "positive effect" isn't as great as you claim it to be. Preventative care or the ability to get a clinician appointment is great to have, but will people use it? Probably not as much as you think they will. 

[Hardcore troubadour 15,486]

2 hours ago, The Real timschochet said:

1. Reparations is a non issue, won’t ever happen. 
2. Health insurance for undocumented immigrants will absolutely have a positive effect. 

Cool. No issue with bussing them there then?