'Very Volatile Moment': Newsom Slashes Budget After Turning $98 Billion Surplus Into $22.5 Billion Deficit in Single Year
'Very Volatile Moment': Newsom Slashes Budget After Turning $98 Billion Surplus Into $22.5 Billion Deficit in Single Year
freebeacon.com 'Very Volatile Moment': Newsom Slashes Budget After Turning $98 Billion Surplus Into $22.5 Billion Deficit in Single Year
California Gov. Gavin Newsom (D.) revealed Tuesday that the state faces a $22.5 billion deficit in the coming fiscal year, a far cry from last year’s $98 billion surplus.
Funny the timing
Now, just five days into his second term, Newsom is singing a different tune. The governor announced a strategy of spending "delays," including on mental health, preschool "inclusion" grants, climate programs, and University of California capital investment. His budget also proposes using federal dollars to make up for reductions to the state’s much-touted climate initiatives.
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