Blue-state GOP blasts Dem gov over surprise $7B budget deficit increase
Democratic Gov. Gavin Newsom faced criticism from his Republican colleagues after announcing that the budget deficit was actually $7 billion worse than originally expected, bringing the total shortfall to nearly $74 billion. facing. “The Legislative Analysis Office (LAO) estimate was significantly higher,” Republican State Budget Committee Vice Chairman Roger Niero said in an interview on […]
Newsom budget promises ‘no new taxes’ but $15.2B in cuts against $80B deficit
(The Center Square) – California Gov. Gavin Newsom promised “no new taxes” in his 2024-2025 budget as he announced the state’s shortfall is $7 billion worse than was expected in January, and proposed $15.2 billion in budget cuts against an up to $80 billion deficit. Newsom’s cuts include reducing water storage and reducing the state’s […]
Gavin Newsom Proposes Cutting 10,000 Vacant State Jobs to Close State Deficit
Gov. Gavin Newsom (D-CA) has announced a $288 billion state budget that will cut thousands of state jobs and funding for more than 200 state programs to eliminate a $27.6 billion state deficit. The proposal was announced. Newsom on Friday unveiled his proposed budget for the 2024-2025 fiscal year, which begins July 1. Quote The […]
Newsom announces $45B deficit in downsized budget proposal
California Gov. Gavin Newsom (D) on Friday announced a $44.9 billion deficit in his revised 2024-25 state budget, while proposing a series of cuts to close the spending gap. The shortfall includes the $27.6 billion detailed in his proposal, plus $17.3 billion in cuts that the state Legislature aggressively introduced weeks ago. of the governor […]
Warren Buffett predicts feds will raise taxes to get massive fiscal deficit under control
Warren Buffett predicted that the federal government would raise taxes to rein in US deficit spending. “I think there’s a good chance of a tax increase,” the billionaire investor said Saturday at Berkshire Hathaway’s annual shareholder meeting in Omaha. “They may decide at some point that they don’t want the budget deficit to be this […]
Buffett predicts higher taxes due to rising deficit
Treasury Secretary Janet Yellen talks about the Biden budget, the US dollar, and FinCEN in an exclusive interview with FOX Business. billionaire warren buffett Rather than cutting spending, the federal government believes it will increase taxes in the future to address the growing budget deficit. “I think a tax increase is likely,” Buffett said Saturday. […]
Islanders Suffer Epic 3-Goal Lead Collapse To Deepen Their Playoff Deficit To 2-0, And Just … How Does This Happen?
I just … I don’t understand. This season, the New York Islanders have had a bit of an issue holding on to leads. However, it looked like those days were over as they headed into the playoffs … nope. And not only are they still around, but one of these moments happened in dramatic fashion […]
California Taking On Huge Debts To Pay Jobless Workers As Deficit Gets Bigger
California is billions of dollars in debt to the federal government to pay for its unemployment insurance trust at a time when the state’s expenses far exceed its income. The state’s government owes almost $21 billion to the federal government at an interest rate of around 2.6%, according to the Treasury Department. California borrowed the […]
California lawmakers vote for $17B deficit reduction plan
The California Legislature passed nearly $17 billion in spending cuts Thursday. Previous efforts pushed by Gov. Gavin Newsom and his Democratic allies have provided small revenue boosts, including $1.5 billion in additional revenue from increased taxes on companies that administer the state’s Medicaid program. . Lawmakers have already rejected attempts to reduce the budget deficit […]
California Is Staring Down The Barrel Of A Yawning Budget Deficit. Can It Even Be Fixed?
California disclosed a large budget deficit earlier this year, and experts question whether the state can balance its budget without resorting to short-term gimmicks. The state is expected to run a $73 billion budget deficit in fiscal year 2024, with a projected $24 billion drop in tax revenue due to the exodus of people from […]