Two years ago, California had a $100 billion budget surplus, leading to positive predictions and national attention for Gov. Newsom as a potential presidential candidate.
However, in 2024, California faces a $50 billion budget deficit, prompting Newsom to declare a fiscal emergency, make budget cuts, and potentially jeopardize his policy objectives.
This financial crisis poses challenges for Newsom's approval ratings, political ambitions, and legacy as a leader, especially as he aims to address issues like homelessness and affordability.
The budget agreement reached aims to address the state's financial woes but leaves uncertainties about Newsom's future beyond California and his presidential aspirations.
[
Collection
]
[
|
...
]