AP Photo/Damian Dovarganes Back in May, California Gov. Gavin Newsom gleefully boasted that the state of California had a nearly $98 billion surplus after operating in the black for multiple years. But, now that Newsom’s been safely reelected, new projections show that the state of California will have a $25 billion deficit in the 2023-2024 fiscal year.
“That shortfall, according to a new report from the state’s independent Legislative Analyst’s Office, could be followed by continued annual budgetary gaps between $17 billion and $8 billion for the subsequent three years,” reports the Sacramento Bee . “If the forecast holds true […]
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