In 2021, California's Independent Legislative Analyst's Office forecasted the state would have a $97 billion budget surplus for the 2022 fiscal year.
However, the latest release from the Legislative Analyst's Office indicated a $25 billion deficit for the coming year. The dramatic change from surplus to deficit has prompted many to ask what could cause such an incredible swing in the state budget.
The Office noted that a challenging economic environment was responsible for the acute change. Nonetheless, they refuse to admit this is a budget crisis, citing that the state has $37.2 billion in various savings accounts.
Poster Comment:
Biden sent out hundreds of billions of pandemic money to Donkey states.