California - $100B surplus to $25B shortfall in 1 yr

[TheGunner]

Aren’t big spending Democrats such as Biden and Newsom great

How did California yo-yo from a $100 billion surplus to a projected $25 billion shortfall — in just one year?

New projections show California on the brink of a recession.

www.mercurynews.com

Op-Ed: California’s budget surplus has vanished and its economy is in danger. It can go one of two ways

The state can’t continue to rely on the tax revenues generated by tech, media and ever-rising property prices. But there are ways to turn painful realities to California’s advantage.

www.latimes.com

 

[SKYDOG]

Aren’t big spending Democrats such as Biden and Newsom great

How did California yo-yo from a $100 billion surplus to a projected $25 billion shortfall — in just one year?

New projections show California on the brink of a recession.

www.mercurynews.com

Op-Ed: California’s budget surplus has vanished and its economy is in danger. It can go one of two ways

The state can’t continue to rely on the tax revenues generated by tech, media and ever-rising property prices. But there are ways to turn painful realities to California’s advantage.

www.latimes.com

They will get bailed out by the federal government just like Illinois, New Jersey and a few other states. That’s a reason it’s so important for the Democrats to remain in power.

 

[Klaus 7196]

They will get bailed out by the federal government just like Illinois, New Jersey and a few other states. That’s a reason it’s so important for the Democrats to remain in power.

I doubt that they'd get a bailout this year. They still have a 36.5 savings account. Might happen in the future though.

 

[Klaus 7196]

Aren’t big spending Democrats such as Biden and Newsom great

How did California yo-yo from a $100 billion surplus to a projected $25 billion shortfall — in just one year?

New projections show California on the brink of a recession.

www.mercurynews.com

Op-Ed: California’s budget surplus has vanished and its economy is in danger. It can go one of two ways

The state can’t continue to rely on the tax revenues generated by tech, media and ever-rising property prices. But there are ways to turn painful realities to California’s advantage.

www.latimes.com

The Dems are big spenders for sure. But the GOP isn't any better. The debt rose by $8.6B during Obama's 8 years. It rose by $6.7B in just four years under Trump.
Both parties absolutely mismanage our tax dollars.

 

[TeddyValentineDidNothingWrong]

They will get bailed out by the federal government just like Illinois, New Jersey and a few other states. That’s a reason it’s so important for the Democrats to remain in power.

California, Illinois and NJ are literally some of the states least dependent on federal funding.

The most dependent include West Virginia, Kentucky and Mississippi. So I'm sure it's those dang Democrats doing it in those places, right?

 

[SKYDOG]

California, Illinois and NJ are literally some of the states least dependent on federal funding.

The most dependent include West Virginia, Kentucky and Mississippi. So I'm sure it's those dang Democrats doing it in those places, right?

Before the last bailout, these states were in debt over their heads with the highest bowering rate and the lowest debt rating. Here’s Illinois for example.

Report: Illinois is 2018’s least fiscally stable state

The state’s pension debt is estimated at more than $200 million.

www.wqad.com

 

[purduedavie]

Aren’t big spending Democrats such as Biden and Newsom great

How did California yo-yo from a $100 billion surplus to a projected $25 billion shortfall — in just one year?

New projections show California on the brink of a recession.

www.mercurynews.com

Op-Ed: California’s budget surplus has vanished and its economy is in danger. It can go one of two ways

The state can’t continue to rely on the tax revenues generated by tech, media and ever-rising property prices. But there are ways to turn painful realities to California’s advantage.

www.latimes.com

In fairness they need to go back and do the things they did the year before under Dems that generated a huge surplus. Both sides suck with our money, our budgets under Trump sure weren’t balanced. To many hands in the cookie jar.

 

[TeddyValentineDidNothingWrong]

Before the last bailout, these states were in debt over their heads with the highest bowering rate and the lowest debt rating. Here’s Illinois for example.

Report: Illinois is 2018’s least fiscally stable state

The state’s pension debt is estimated at more than $200 million.

www.wqad.com

Wow cool. That has nothing to do with what I said.

 

[SKYDOG]

Wow cool. That has nothing to do with what I said.

It sure does. The states needed bailed out and they were. They were dependent on federal funding to get bailed out. Twist the words however you like, but the federal government came to the rescue.

 

[BoilerTom90]

It sure does. The states needed bailed out and they were. They were dependent on federal funding to get bailed out. Twist the words however you like, but the federal government came to the rescue.

This is exactly what happened. What’s worse is Jelly belly Pritzker touted a big financial turnaround, as of he did anything to help matters. All he knows how to do is enact leftist policies and spend money to secure votes.

 

[bonefish1]

They’re democrats, doesn’t that pretty much explain it?
These are the same morons wanting to give $5m in reparations to black people. I mean, that’s gotta be one of the dumbest ideas ever created (a close second to voting for Biden).

 

[Boilermaker03]

The Dems are big spenders for sure. But the GOP isn't any better. The debt rose by $8.6B during Obama's 8 years. It rose by $6.7B in just four years under Trump.
Both parties absolutely mismanage our tax dollars.

A very large amount of the rise under Trump was due to Covid. What most people don't realize was that tax revenues went up also when Trump cut taxes.

 

[BoilerTom90]

A very large amount of the rise under Trump was due to Covid. What most people don't realize was that tax revenues went up also when Trump cut taxes.

Those in charge don’t want us to know that cutting taxes usually results in more revenue. In 2026 the trump tax cuts will expire, so mark your calendars….in the meantime convert as many IRAs to Roth’s as you can afford.