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Author Topic: California Debt Problem Much Worse Than Newsom Has Let On  (Read 2071 times)

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Offline rangerrebew

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California Debt Problem Much Worse Than Newsom Has Let On
« on: February 23, 2024, 09:20:27 am »
 
California Debt Problem Much Worse Than Newsom Has Let On
 
 
California’s debt crisis looms larger than Governor Gavin Newsom has publicly acknowledged, plunging the Golden State into an unprecedented financial quagmire. With a budget deficit ballooning to a record $68 billion, far surpassing earlier estimates, and the state grappling with economic downturns that have hit key industries hard, the fiscal reality presents a stark contrast to the governor’s optimistic veneer​​​​.

This widening gap between the administration’s projections and the harsh financial realities threatens not only the state’s economic stability but also its ability to maintain essential public services and investments in the future​​​​.

https://www.msn.com/en-us/money/markets/california-debt-problem-much-worse-than-newsom-has-let-on/ss-BB1iFpa8?ocid=msedgntp&pc=HCTS&cvid=d89e6a4213c94ea58b3eaca3fcad24d5&ei=25
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The unity of government which constitutes you one people is also now dear to you. It is justly so, for it is a main pillar in the edifice of your real independence, the support of your tranquility at home, your peace abroad; of your safety; of your prosperity; of that very liberty which you so highly prize. But as it is easy to foresee that, from different causes and from different quarters, much pains will be taken, many artifices employed to weaken in your minds the conviction of this truth.  George Washington - Farewell Address

Offline PeteS in CA

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Re: California Debt Problem Much Worse Than Newsom Has Let On
« Reply #1 on: February 23, 2024, 11:04:57 am »
CA has been hiding its real-life budget deficits for decades through stealing gas tax $$ - which should fund road building and maintenance - for General Fund expenditures, vastly under-funding pensions (tick ... tick ... tick ...), and other accounting shenanigans.
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I am not and never have been a leftist.

If, as anti-Covid-vaxxers claim, https://www.poynter.org/fact-checking/2021/robert-f-kennedy-jr-said-the-covid-19-vaccine-is-the-deadliest-vaccine-ever-made-thats-not-true/ , https://gospelnewsnetwork.org/2021/11/23/covid-shots-are-the-deadliest-vaccines-in-medical-history/ , The Vaccine is deadly, where in the US have Pfizer and Moderna hidden the millions of bodies of those who died of "vaccine injury"?

Millions now living should have died. Anti-Covid-Vaxxer ghouls hardest hit.

Offline rangerrebew

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Re: California Debt Problem Much Worse Than Newsom Has Let On
« Reply #2 on: February 25, 2024, 10:30:41 am »
California Faces Deficit Difficulty as Predictions Show 26% Rise to $73 Billion
 
Recent reports have suggested that California’s budget deficit will rise for 2024-2025. The state’s Legislative Analyst’s Office (LAO) has predicted it will rise by 26%, reaching $73 billion. The report indicates this is due to lower-than-expected tax receipts.   

https://www.msn.com/en-us/money/markets/california-faces-deficit-difficulty-as-predictions-show-26-rise-to-73-billion/ss-BB1iQTSk?ocid=msedgntp&pc=HCTS&cvid=4d27278af6c94cbc80bbe1b08d0356c3&ei=33
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The unity of government which constitutes you one people is also now dear to you. It is justly so, for it is a main pillar in the edifice of your real independence, the support of your tranquility at home, your peace abroad; of your safety; of your prosperity; of that very liberty which you so highly prize. But as it is easy to foresee that, from different causes and from different quarters, much pains will be taken, many artifices employed to weaken in your minds the conviction of this truth.  George Washington - Farewell Address

Online Wingnut

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Re: California Debt Problem Much Worse Than Newsom Has Let On
« Reply #3 on: February 25, 2024, 10:33:33 am »
Man that is terrible news.   :smokin:  Too bad. So sad!
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Offline rangerrebew

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Re: California Debt Problem Much Worse Than Newsom Has Let On
« Reply #4 on: February 27, 2024, 09:13:33 am »
 
Californians Learn Consequence Of Newsom’s Spending Spree
© Provided by State Of The Union

California is facing a budget crisis with a projected record deficit of $73 billion, as reported by the Legislative Analyst’s Office.

The deficit increase is attributed to a $24 billion revenue erosion, leading to a $15 billion rise in the budget problem.

“The actual increase in the state’s budget problem will depend on a number of factors, including formula-driven spending changes, most notably Proposition 98 spending requirements for schools and community colleges,” the report read.


H.D. Palmer from California’s Department of Finance disputed the estimate, stating that $51 billion in tax receipts are expected.

https://www.msn.com/en-us/news/us/californians-learn-consequence-of-newsom-s-spending-spree/ar-BB1iWf9H?ocid=msedgntp&pc=HCTS&cvid=f50e354edf9a4bb3b7551c10087e6991&ei=51
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The unity of government which constitutes you one people is also now dear to you. It is justly so, for it is a main pillar in the edifice of your real independence, the support of your tranquility at home, your peace abroad; of your safety; of your prosperity; of that very liberty which you so highly prize. But as it is easy to foresee that, from different causes and from different quarters, much pains will be taken, many artifices employed to weaken in your minds the conviction of this truth.  George Washington - Farewell Address

Offline Cyber Liberty

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Re: California Debt Problem Much Worse Than Newsom Has Let On
« Reply #5 on: February 27, 2024, 10:57:19 am »
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