California lawmakers finalize $321 billion budget amid housing and environmental debates
TL;DR Summary
The California budget deal for 2025-26 masks a significant structural deficit caused by years of overspending and accounting tricks, with officials blaming external factors like federal tariffs, while actually relying on payment deferrals, loans, and reserves to cover ongoing fiscal shortfalls, raising concerns about long-term fiscal health and transparency.
Topics:nation#budget-gimmicks#california-budget#fiscal-policy#gavin-newsom#politics#structural-deficit
- California budget deal cooks the books again to hide big ‘structural’ deficit CalMatters
- California Democrats wage internal war over Gavin Newsom's late push to build more housing Politico
- California budget approval comes with a catch: housing, labor, environmental overhaul KCRA
- California lawmakers close to reaching budget deal but Governor Gavin Newsom indicates he isn't satisfied abc7.com
- Newsom, Democrats reach $321-billion California budget deal Los Angeles Times
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