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California Sent Spinning by Reckless Tax Disaster – Budget Deficit Spirals Out of Control, Shows Newsom Is Off By $7B

California Sent Spinning by Reckless Tax Disaster – Budget Deficit Spirals Out of Control, Shows Newsom Is Off By $7B

Just last year, the once Golden State boasted a surplus of $100 billion. That’s quite a chunk of change to have left for future commitments.

Few companies have that kind of money on hand. Yet California enjoyed a staggeringly large sum of money in 2022.

This from thepatriotjournal.com.

But something terrible happened between then and now. The surplus is gone—totally wiped out.

Far-left California managed to fritter away $100 billion in surplus—meaning extra, above and beyond.

And the do-no-good governor, Gavin Newsom—aka the drunken sailor on his first shore leave—warned that this year they would be in the red by a shocking $22.5 billion.

 

But now, we are learning Newsom low-balled the dollar amount.

California’s budget deficit may be billions of dollars larger than the already big number predicted by [democrat communist/globalist] Gov. Gavin Newsom, raising concerns about the Golden State’s fiscal future…

The California Legislative Analyst’s Office (LAO), a government agency that analyzes the budget for the state legislature, estimates in a report published last week that Newsom’s forecast undershot the mark by about $7 billion, thanks to about $10 billion less in tax revenues than expected.

NOTE: If a CEO had wasted $100 billion in one year, not only would he be fired, but he’d be in jail.

Yet the crooks that run socialist California burned through that much money in a year and are now facing a massive deficit.

All their big government spending will put them in the red $7 billion more than what Newsom was predicting.

Part of the reason was because the state came up short $10 billion in tax revenues.

Is it also possible the hundreds of thousands of residents having fled California—thanks to Newsom’s’ failed leadership—was a contributing factor?

 

Why is California in so much trouble?

 

Well, consider the fact it is spending tax dollars on free healthcare for illegal immigrants.

Also, the Leftist policies of the communist/globalist leadership are driving away businesses with high taxes, idiotic environmental regulations, and other limits that are killing industries.

  • Residents are fleeing because the cost of living far extends what they can earn.
  • California’s gas prices are through the roof.
  • They’ve banned fossil fuels, so electricity prices are sky-high.
  • In some cities, homelessness is out of control thanks to legalized drugs and stupid policies that make housing too expensive.

California is being driven into the ground by idiots who have no clue how to lead.

[Democrats Communists/Globalists] thought they can burn through taxpayer dollars, supporting whatever braindead leftist idea they had, and suffer no consequences.

And now they don’t have COVID money to fall back on anymore.

 

This massive deficit is going to drown the state.

 

Final thoughts: Newsom will continue unchecked, undisciplined, and unashamed. The mass propaganda media will cover for him and hard-working Americans via federal government largesse will bail out this communist/globalist Blue state.