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National News See other National News Articles Title: State of California Now Facing Record Deficit of $68 Billion, According to Non-Partisan Analyst 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: It is now much more expensive for people and businesses to borrow money, meaning fewer people are buying homes and fewer businesses are hiring workers. That is leading to fewer tax collections for the state. A series of damaging storms last winter have made the problem worse. The storms were so bad that state officials decided to give people and businesses more time to pay their taxes this year. Californians did not have to pay their 2022 taxes until November of this year. That meant Newsom and the Legislature had to come up with a budget over the summer without knowing how much money the state had to spend. It turns out that they badly misjudged how much taxes people and businesses would pay. The nonpartisan Legislative Analyst Office said tax collections were off by $26 billion, a major driver of the deficit. When combined with the economic slowdown California has been facing since last year, it leads to a predicted deficit of $68 billion, Legislative Analyst Gabriel Petek announced Thursday. No state wants to be on a trajectory that looks like this. Jeremy B. White @JeremyBWhite Head-spinning to see California go from a nearly $100 billion surplus to a $68 billion deficit in just two years Poster Comment: All those people who left California no longer are paying taxes there. Newsom will have problems at Democrat National Convention in Chicago. I am getting the feeling that the DNC convention in Chicago will be worse for the Democrats than the one they had there in 1968!! Blacks and Muslims will be pissed. Plus the economy will drop like a rock. We will be headed to a $4 trillion deficit. Inflation might spike. People will dump dollars and buy commodities. Post Comment Private Reply Ignore Thread Top • Page Up • Full Thread • Page Down • Bottom/Latest
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Democrat Business Owner Who Voted for Biden and Newsom Outraged for Repeated Burglaries on His Business for the Past Two Years: “Give Me a Reason to Vote for You Again” The Truth of 911 Shall Set You Free From The Lie
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