In May 2022, California had a record surplus of $97.5 billion, but just like everything else in California, the good turns bad -- and fast.

NEW: California’s Legislative Analyst’s Office says the state’s budget problem has grown by $15 Billion.

LAO says because of weak revenue collections so far, the state’s deficit could reach $73 Billion. https://t.co/oz83vntalh

— Ashley Zavala (@ZavalaA) February 20, 2024

Per a new report from California's nonpartisan Legislative Analyst's Office, the budget deficit could reach a record of $73 billion. 

The actual increase in the state's budget problem will depend on a number of factors, including formula-driven spending changes, most notably Proposition 98 spending requirements for schools and community colleges.

Gov. Gavin Newsom (D-CA) loves to focus on red states, such as Florida, Texas, and Oklahoma, as his state is ransacked by crime, homelessness, drugs, pro-crime District Attorneys, and is now facing a deficit of at least $68 billion, while on the verge of a record budget deficit. 

This is the result of one-party rule for decades. The state senate, assembly, and governor are all Democrats, and the Republicans have no say in state policies unless more GOP voters actually vote, and some Independent and Democrat voters see the disaster that is right in front of them. 

Remember hearing that California’s budget deficit was $68 billion?

Now it’s up to $73 billion.

Maybe one day democrats will seek counseling to break free of their emotional spending habits, of your money. https://t.co/aJWu0q4HGL

— Senator Melissa Melendez (@senatormelendez) February 21, 2024

Newsom was hoping for a $38 billion deficit; but H.D. Palmer, a spokesman for Newsom's Department of Finance said:

From now through April, more than $51 billion in income and corporate tax receipts are forecast to come in," Palmer said. "No one can say today with certainty how those numbers may change the budget estimate of a $38 billion shortfall. A responsible step would be for the Legislature to act now on the early action budget measures needed for $8 billion in solutions to help close this gap.

Per the LAO, there are multiple ways to address the budget issue.

While addressing a deficit of this scope will be challenging, the Legislature has a number of options available to do so. In particular, the state has nearly $24 billion in reserves to address the budget problem. In addition, there are options to reduce spending on schools and community colleges that could address nearly $17 billion of the budget problem. Further adjustments to other areas of the budget, such as reductions to one‑time spending, could address at least an additional $10 billion or so. These options and some others, like cost shifts, would allow the Legislature to solve most of the deficit largely without impacting the state’s core ongoing service level.

The problem with this proposal is that Newsom is an incompetent governor, and if he were the CEO of a company, he would have been fired a long time ago. Although there is a way to get out of the budget deficit crisis, between California public schools ranking 26th in quality and 37th in safety, the border crisis hitting the state harder than any time before, and Newsom having to deploy California Highway Patrol to Oakland to crack down on crime, it is going to cost money to fix these issues. 

NEW: Single adults from around the globe just crossed illegally here in Jacumba, CA.
They tell me they’re from India, China, Georgia, Ecuador, Colombia, & Mexico.
We continue to see Chinese in every single group crossing here. pic.twitter.com/DdBIf3aOOD

— Bill Melugin (@BillMelugin_) February 20, 2024