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California faced a $26.3 billion budget deficit for the 2009–2010 budget year. [7] While the legislative bodies appeared to address the problem in 2008 with the three-month delayed passage of a budget they in fact only postponed the deficit to 2009 and due to the Great Recession and the 2007–2008 financial crisis the problem became urgent ...
In the table, the fiscal years column lists all of the fiscal years the budget covers and the budget and budget per capita columns show the total for all those years. Note that a fiscal year is named for the calendar year in which it ends, so "2022-23" means two fiscal years: the one ending in calendar year 2022 and the one ending in calendar ...
With the passage of Proposition 30 in 2012 and a steadily improving economy, for the first time in many years, California Governor Jerry Brown's proposed budget plan for 2013 listed a small surplus. [21]
Newsom boasted of a $97.5 billion budget surplus in 2022, but a year later, it morphed into a $31-plus billion deficit. What happened? California’s budget whiplash showed the pitfalls of ...
California has a huge budget problem that could force thorny decisions from Democratic leaders who enjoyed a more than $100 billion surplus just three years ago. Democratic Gov. Gavin Newsom on ...
Gov. Gavin Newsom laid out his budget amid projections of tougher economic times to come. Gavin Newsom unveils $297 billion California budget with a deficit after years of surplus Skip to main content
By November 2022, the California Legislative Analyst’s Office issued dire warnings about state revenues falling short, by as much as $24 billion below target for that year’s approved budget.
The plan would devote billions to an inflation relief package, drought and wildfire conditions, healthcare plan subsidies and higher school funding.