California Gov. Gavin Newsom (D) is proposing funding the state's “Rainy Day” fund to help plug the hole in the state's $38 billion deficit. That's a surprising shortfall considering the nearly $100 billion surplus the Golden State enjoyed. Exactly one year ago.
As Breitbart News pointed out, California faces a shocking $98 billion surplus, partially supported by President Joe Biden's “relief” plan, collapsing into a $25 billion deficit at the end of 2022. I received the news. Subsequent forecasts predicted that the deficit would widen further.
On Wednesday, Newsom presented a budget that projects a $38 billion deficit, which could be only half of the final deficit.
As CalMatters.org points out, Newsom was suggested That includes spending cuts to some programs, such as the state's efforts to combat climate change, and additional funding to help resettle migrants who arrive in California after crossing the porous southern border.
But Mr. Newsom is also stripping away state savings to prevent budget cuts in areas such as education.ed sauce report:
Gov. Gavin Newsom's proposed 2024-25 state budget released Wednesday will protect schools and community colleges from the brunt of a projected $11.3 billion decline in state education revenue. In addition to covering current funding levels and all existing commitments for new and expanded programs, the budget calls for cost of living increases of less than 1% next year.
The combined $38.7 billion revenue decline for schools and the state general fund over three years is $30 billion less than the Legislative Analysis Service had predicted a month ago, reducing the burden of balancing the budget and significantly potential financial expenditures are avoided. Budget cuts and payment delays, at least for community colleges and TK-12.
…
Newsom plans to withdraw about $7 billion from the $10.8 billion TK-14 rainy day fund to cover this year's shortfall and meet minimum obligations in 2024-25, protecting schools and community colleges. . States would not seek reimbursement for those found to have provided funding in excess of Prop. 98's minimum statutory obligations in the past two years.
Newsom's predecessor, Gov. Jerry Brown (Democratic), Created The “Rainy Day Fund'' did not solve California's budget problems.
One cause of the budget deficit is the state's unrelenting zeal for health care for illegal aliens. As of this year, the state is provide Full benefits under Medi-Cal, California's version of Medicaid, are available to all residents regardless of immigration status.
When Obamacare was passed and Medicaid was expanded, Republicans fear The argument that it would benefit illegal immigrants was rejected.
Joel B. Pollack is a senior editor at Breitbart News. Breitbart News Sunday Sunday nights from 7:00 PM to 10:00 PM ET (4:00 PM to 7:00 PM PT) on Sirius XM Patriot. He is the author of a new biography, Rhoda: “Comrade Cadderly, you are abnormal.”. He is also the author of a recently published e-book. Neither Free nor Fair: The 2020 US Presidential Election. He is the recipient of the 2018 Robert Novak Journalism Alumni Fellowship. Follow him on Twitter @joelpolak.
