By Free Republic | Created at 2025-01-07 14:02:40 | Updated at 2025-01-11 00:02:20
3 days ago
Newsom Claims California Budget Surplus; Warns of Trump, DOGE Spending Cuts
Breitbart ^ | 01/07/2025 | Joel B. Pollak
Posted on 01/07/2025 5:53:42 AM PST by ChicagoConservative27
California Gov. Gavin Newsom (D) claimed that the state would have a modest budget surplus next year — though he still planned to raid the “rainy day” emergency fund, and warned of President-elect Donald Trump’s spending cuts.
Last year, Newsom came under intense criticism after turning what had once been a $100 billion surplus — thanks, in part, to coronavirus relief money from the Biden-Harris administration — into a nearly $50 billion deficit. Now, due to rising revenues from wealthy taxpayers, Newsom says there will be a surplus. But he warned that the surplus could be in danger from Trump’s spending cuts, fueled by Elon Musk and Vivek Ramaswamy’s efforts in the “Department of Government Efficiency” (DOGE), which plans to reduce trillions in federal waste.
The San Francisco Chronicle noted:
The budget outlook Newsom describes is a major turnaround from the $47 billion deficit last year and the $32 billion shortfall the year before. Newsom and the nonpartisan Legislative Analyst’s Office, which makes budget projections for the Legislature, both attribute the improvement to stock market gains by the state’s wealthiest taxpayers and cuts in previous years.
But, Newsom cautioned, the steep cuts to federal government spending that Trump has promised could darken the bright picture he painted of California’s economy. Newsom said the incoming president could impact California’s budget depending on how his trade, tariff and immigration policies play out. That happened last time Trump was in office, Newsom said.
(Excerpt) Read more at breitbart.com ...
TOPICS: Culture/Society; Government; News/Current Events; Politics/Elections
KEYWORDS: budget; calfornia; newsom; trump
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Surplus my butt. LIAR
To: ChicagoConservative27
Basically he warns if the Fed Gov stops pumping money into California they will be in a deficit.
Total liar about the state surplus.
2 posted on 01/07/2025 5:56:13 AM PST by Skwor
To: ChicagoConservative27
There's one way to prove it.
Open the books to the public!
3 posted on 01/07/2025 5:59:34 AM PST by airborne (Thank you Rush for helping me find FreeRepublic! )
To: ChicagoConservative27
4 posted on 01/07/2025 6:00:52 AM PST by Uncle Miltie (muslims ARE INBRED IGNORAMUSES. See my "About" page for proof.)
To: ChicagoConservative27
He knows his budget will toast again next year and he is just trying to shift blame for what will be a dismal performance to the federal government. It’s the start of his next presidential campaign.
5 posted on 01/07/2025 6:02:12 AM PST by johniegrad
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