USA 2024 Elections Thread

grarpamp grarpamp at gmail.com
Fri May 12 17:52:16 PDT 2023


California a true Dem Shithole like Chicago NYC DC
Baltimore Seattle Portland etc...


California's Deficit Deepens To $32 Billion (14-Year-High)... And
That's Before Reparations

https://www.foxnews.com/politics/activists-demand-higher-payments-calif-reparations-committee-200-million-per-person

California is now facing a $32 billion budget deficit, as the state
faces a much deeper hole than previously projected, Bloomberg reports.

"We are walking into a budget where we need to maintain our prudence,"
said Governor Gavin Newsom (D) on Friday, warning that a recession
could worsen the financial situation in the years to come.

"That is an uncertainty that we must take very soberly and seriously
as it relates to macro economic headwinds," he added.

The expected shortfall is $9.5 billion worse than a $22.5 billion
January estimate, according to figures released today, and will be the
biggest deficit since 2010...

Newsom proposed a $224.1 billion general-fund budget for the fiscal
year starting on the 1st of July, according to the report.

    Revenue has been hurt by the sinking fortunes of California’s
wealthiest residents, who shoulder a disproportionate share of the tax
burden. Roughly half of the state’s personal income taxes coming from
the top 1% of earners.

    Thousands of workers have been laid off from California-based tech
giants including Alphabet Inc., Meta Platforms Inc. and Twitter. The
collapse of Silicon Valley Bank, which mainly catered to the tech and
venture capital sectors, along with two other California-based
regional lenders earlier this year adds to the economic turbulence.
-Bloomberg

That said, the deficit is comparatively small vs. the cash crunch
faced by the state during the last session, but this time Newsom will
need to persuade Democrat lawmakers to make deep cuts - something
which doesn't come naturally to tax-and-spend liberals.

Meanwhile, deadlines to file and pay taxes were extended by six months
to October 16 in most counties in the state due to the severe winter
storms earlier this year.

State legislators - who must now negotiate over potential cuts to the
budget - have until June 15 to pass one or they forfeit their pay for
each day they are late.

Earlier this year Newsom touted 'transformative investments' in
housing, education, childcare, health care and climate programs as
part of his preliminary spending plan.

    "This was not an easy budget, but I hope you see we will try to do
our best to hold the line and take care of the most vulnerable and
most needy, but still maintain prudence," said Newsom.

Is it any wonder, Newsom is quickly (and carefully) sidestepping the
$800 billion in reparations costs that he has implicitly promised
California's black residents, preferriung instead to remind citizens
that "its about more than just cash payments."

We suspect, there may well be a few (million) disillusioned voters who
feel like they were promised cash for being black.

As one minister declared at the hearing last week, “Tell Governor
Newsom we’re coming. He knows me.”

Did the virtue-signaling golden-boy just hit a reality wall?


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