Newsom Says Climate Change Partly to Blame for California Budget Deficit

Breitbart ^ | 05/15/2024 | JOEL B. POLLAK

[ChicagoConservative27]

California Gov. Gavin Newsom (D) has turned to climate change to explain how the state went from a $100 billion surplus two years ago to a $28 billion deficit, which would have been even higher prior to drastic actions last month.

As CalMatters noted, deficit estimates ranged from $38 billion to $73 billion:

That prompted Newsom and the Legislature to take “early action” last month to reduce the deficit by more than $17 billion ahead of the regular budget process. Their plan included some program cuts, but mostly relied on new revenue, internal borrowing and funding delays and shifts for savings, earning criticism from Republican lawmakers for being “gimmicky” and “balanced on hopes and prayers.”

…

Why does California have such a financial problem? The reasons go back two years. A downturn in the stock market in 2022 hit capital gains, while high inflation pinched the housing market and the tech industry pulled back on initial public offerings as investments dropped. Those blows have continued as wealthy taxpayers carried forward their losses.

But the drops in revenue were not fully reflected in the spending plan that Newsom and legislators adopted last summer. Severe winter storms prompted the federal government to delay the income tax filing deadline for most Californians from April until November, and the state followed suit, giving an incomplete picture during the budget process. The state committed to funding programs that it subsequently realized it cannot afford.

[ChicagoConservative27]

I think I have heard it all now... what a loser.

[mfish13]

Democrats blame everyone else, but themselves

[Parley Baer]

Bwahahahahahahahaha

[xp38]

The actual dim legislators of course had nothing to do with it.

[econjack]

More smoke and mirrors..."Don't look at that hand, look at this hand!"

[V_TWIN]

Well he can’t yell racism so......

[ealgeone]

Politicians rules:

get reelected

Blame someone or something else for problems you create

[GMThrust]

This would be a ridiculous story if you first believe they had a surplus.

[butlerweave]

Their climate change scam siphons off billions of dollars that disappear

[BlueLancer]

Climate change causes money to evaporate ...

[Tell It Right]

The climate is always changing. Look at the changes from the past few thousand years. Our Modern Warm Period is just more of the same ol' same ol'.

[Socon-Econ]

So the climate has decided to change more in blue states than red states?

[eyeamok]

Oh oy, that climate change is some powerful stuff, The need is so overwhelming right now for action, I propose we make it a FELONYT for ANY and ALL Public Employee’s in the State touse any mode or method of transportation that emits any Carbon of any Kind or uses any “foswsil fuel”, except mass Public Transit.

[catnipman]

“Newsom Says Climate Change Partly to Blame for California Budget Deficit”

is there ANYTHING that “climate change” can’t do?

[Red Badger]

Climate Change........Is there anything it cannot do???????????....................

[Red Badger]

GMTA!....................

[butlerweave]

So the climate has decided to change more in blue states than red states?

They also say it’s changing in parts of the world the world has to come to the US but if it’s also changing in the US why come to the US , it’s just one very very big SCAM

[dfwgator]

Climate Change - Is there anything it can’t do?

[farmguy]

Climate change?

Or liberal over reaction to their supposed climate change?

[mewzilla]

I’m surprised the Hatkles didn’t use it as the excuse for why Archewell’s check and paperwork never showed up.