Twenty-four months ago, California Gov. Gavin Newsom proudly stood before the cameras boasting of his state’s financial status. “No other state in American history has ever experienced a surplus as large as this,” he said.
Newsom’s surplus totaled $97.5 billion. One year later, the governor presented a 2023-2024 budget that projected a whiplash deficit of $31.5 billion. It turns out that forecast was a low-ball. As revealed last week, the current budget deficit is now reported to be at least $45 billion.
California’s shortfall is an important one to remember going forward as Newsom is widely believed to harbor presidential aspirations.
How could California cure this budget disaster?
For the surprising answer, Read Brian’s complete commentary at World Net Daily…