Newsom boasted a $97.5 billion surplus 2 years ago, leading to a $300 billion 2022-23 budget, but revenue projections fell short, resulting in a $44.9 billion deficit.
Overestimation stemmed from viewing post-pandemic revenue spike as a continual trend, projecting a $97.5 billion surplus without concrete documentation, leading to slashed spending.
Collection
[
|
...
]