"Newsom's Plan: Reserves and Cuts to Tackle California's $38B Deficit"
TL;DR Summary
California Governor Gavin Newsom announced a $37.9 billion budget deficit and proposed covering nearly half of it with reserves, trimming $12 billion from planned spending, and delaying over $7 billion in spending commitments into the next fiscal year, aiming to address the deficit in an election year and position himself as a defender of Democratic values ahead of the 2024 presidential election.
- Newsom Seeks to Close $37.9 Billion Deficit by Cutting Spending and Using Reserves The New York Times
- California governor wants reserves and cuts to fix nearly $38B deficit KCRA 3
- California's Newsom Seeks $208.7 Billion Budget With Deficit Looming Yahoo Finance
- Gavin Newsom reveals plan to fix California spending deficit. What’s in his $291 billion budget Sacramento Bee
- Opinion | Who should CA believe about the size of the budget deficit? CalMatters
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