How California Is Burning a $100 Billion Surplus

In Analysis by Michael Rae

What’s wrong with California’s state government leaders?
I know. It’s a long list. Still, the politicians and bureaucrats running California’s state government have outdone themselves. They managed to go from trumpeting their success in achieving a $97.5 billion surplus to digging themselves into a $25 billion deficit hole. It only took them six months.
Cal Matters‘ Emily Hoeven describes the budget whiplash:
$25 billion.
That’s the estimated deficit Gov. Gavin Newsom and state lawmakers will confront when crafting a budget for the upcoming fiscal year, the Legislature’s nonpartisan fiscal advisor announced Wednesday.
The projection marks a stunning reversal from back-to-back years of unprecedented prosperity: The budget for California’s

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