Walters: State's chronic deficit looms again as Newsom prepares his last budget
California faces a structural budget deficit from a $165 billion revenue projection error, prompting $21 billion in borrowing, reserve usage, and postponed spending.
Albany leaders consider budget stabilizing measures as revenue falls short
The city has been experiencing a structural deficit, projected to peak at nearly $2 million in 2029 or $6 million in 2035 due to growing pension liabilities and unfunded capital projects.