Shock: California Projects $25 Billion Deficit -- After $98 Billion Surplus

, released Wednesday, come just over a week after elections in which Democrats, including Gov. Gavin Newsom , were reelected to every statewide office after a year of lavish public spending.

The Legislative Analyst’s Office explained that the deficit could be even worse, if a recession is particularly bad : Under our outlook, the Legislature would face a budget problem of $25 billion in 2023‑24. The budget problem is mainly attributable to lower revenue estimates, which are lower than budget act projections from 2021‑22 through 2023‑24 by $41 billion. Revenue losses are offset by lower spending in certain areas. Over the subsequent years of the forecast, annual deficits would decline from $17 billion to $8 billion.

Wow this guy should be a democrat runing for president ... bet he will win

But at least Newsom knows to wear sunglasses when he stares at an eclipse.

Well he did send out stimulus checks to the voters right before the election

Lot of experts on govt budgets in these comments. 'Let me blame a Democrat while offering no real thoughts at all.'

Think. This was the voting year, not next year.

The problem with the California budget is that it relies to much on the capital gains from high income tax payers. 2022 and 2023 will be tough years for those tax payers.

California drew in 11% less in personal income tax revenue than it expected so far this year, the latest warning sign for the finances of a state whose fortunes are closely tied to the performance of market

California EDD used AB 5 new law signed by Gavin to audit huge number of small business reliant on contractors in the past 2 years and rip them off, most just closed or downsized their businesses or moved out of state, it is going to get worse for California budget.

Must have to to FTX.

Remember California, you were given two chances recently to vote and change course for your state....keep an eye out for icebergs and hopefully you know how to swim!

He turns the state into a shithole, squanders money, and wants to run the country into the ground.

And people are surprised by this? When you have a bunch of socialists running things in Sacramento, this is what you end up with.

Run by democrats. No surprise there.

Must be the 25 billion Newsom is planning on splitting with Nancy Pelosi and her husband. 🙄🙄 My California family tells me every single day how much they cannot stand him and the rest of the demoncrats running the show there. I'm glad I moved away before it got worse.

We need to build a wall around California

Buying votes has repercussions?

Meanwhile Gav is out banging someone else's wife

Couldn’t happen to a better state

FL is balanced under DeSantis 😁💪🏻

The only way to fix this more taxes.

Great platform to run on LMAO

Bad management.

What a shocker.

Lost on Health Care for illegals & Doppity Do.

125 billion deficit In the coming year?

Check Newsoms bank account.

Poor money management

Well why this just comes out now ?

Biggest turnaround since the 1999 St Louis Rams.

used up the covid bail out money

What changed? Big Guy not flooding the States with Covid cash anymore?

Get ready for taxes to go up again.

Told Gavin in a tweet that he was so full of sh*t, we could unscrew his head and chip it out with a jackhammer. I'm seeing I wasn't wrong.

Cali fleeces the rich. With tech stocks down, income will plunge.

Here in Illinois Pritzker took credit for a budget surplus. It was red state’s bailouts of blue states covid shenanigans but he took credit with a straight face.

Go Gav 🤸‍♂️🎵🥳 splendid job ya doin there

Because people are leaving ?

Tax the rich. The rich leave. Good luck.

Brandon will be sending Newsome billions before long.

Audit

Thank a democrat

Wonder how much of that surplus is Biden Bailout $?

Continue with the freebies!

and much higher taxes to come. ... its wrong, I dont feel sorry for them, they got what they voted for, but its still wrong.

Maybe it was the “gas” rebate that everyone received just before the election. I wonder🤔….was that a vote bribe.

Who was president the last two years? LOL 'California’s revenues soared in the past two years, thanks to a speedy economic recovery that began under President Donald Trump, and massive transfers from the federal government under President Joe Biden.'

Gee, who could've seen this one coming? 🤡

I am sure they can just keep raising taxes in California.........

LiveFree_n_Loud Looks who’s running that state. Says it all

This source is always right 🙄🙄🙄

kinda sucks when the covid money dries up and there isnt any other place to steal money from

Newsom = incompetence vs DeSantis = competence.

The white supremacist news is worried about California's budget...

Is it really a surprise that leftist policies lead to deficits and misery? Happens every single time.

No problem, just print some more money in DC and send it to CA

Unbelievable what one nut can do

GOOD! Californians deserve what they vote for over and over and over.

Florida has more money than they know what to do with. Anything for your kids is tax free, Jesus pet food is tax free. We can't fix california and illinois until it's decimated but we can keep them out of the free states.

Living off borrowed money and borrowed time. The bill is coming due.

If they are nonpartisan, they wouldn't be on Breitbart.

How many Billions did Nancy give newsom for COVID recovery? That 98 Billion came from you and me and our great great grand kids.

Their surplus was due to government funding for Covid. It was all a lie and you all bought into it.

And yet this 🤡 wants to run for President

Some Californians, have been living in a completely different reality where they believe if don't acknowledge the real issues, they don't exist. I'm waiting for Californians to finally get fed up and vote differently for once, maybe then we can Make California Great Again MACA

The Federal Covid money train is out of gas. Gotta make it on your own. Shutting down the state ain’t looking like such a good idea anymore does it?

I live in CA, not shocking.

He's the worst politician ever to hold office.

do the math Gavin. residents fleeing your state = less revenue from less residents. sooner or later the rich residents are going to give up due to taxes too. then what?

Funny, I was just speaking with someone that lives in Cali and was all in for Democrats.

You can't escape demography forever.

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