The state of California is now facing an eye-popping deficit of $68 billion dollars, according to a non-partisan analyst.
It has become so expensive to live in California that people are buying fewer homes and businesses are hiring fewer people. Add the massive population loss suffered by the state for the last two years and there is much less money on the table for the state to collect in taxes.
This is what the leadership of Gavin Newsom and progressive policies have brought to California. Wreck and ruin.
From the Associated Press, via KEYT News:
California faces record $68 billion budget deficit, nonpartisan legislative analyst says
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.
The nation’s most populous state — with an economy that is the fifth largest in the world — has been struggling since last year because of the rising prices of most goods and services and how the U.S. government has been trying to control it.
It is now much more expensive for people and businesses to borrow money, meaning fewer…
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