California has a staggering

If you really think a diverse vast amount of business are contained by these stats, as mentioned you agreed youd rather cite the box score. I'm saying these things apply with context, I'm not sure you're willing to see the complexity or need to keep it simple so you have an answer, buts is alright. Just have to learn to critically think buts its ok. I'd wager any business any investment you do in california or ny is going to be more stressful and loopholes jumped and bureacracy dealt with far more the other states. Doesnt mean its not possible to do well, it means that those govertnemts have some overreach, some regulations are always important, theres are not. You simple have to open up a business or invest and you'll see so many silly things that say that doesn't make any sense or why would they make people do this. You'll find that answer with people who have done well and wont move elsewhere too. Details.

 

Totally fraudulent to fritter away last years 75B surplus rather than debt servicing that will later be needed to call on another tranch of bond purchases for the coming recession.

calmatters.org /newsletters/whatmatters/2022/11/california-budget-deficit/
Budget whiplash: California faces $25 billion deficit

$25 billion.

That’s the estimated deficit Gov. Gavin Newsom and state lawmakers will confront when crafting a budget for the upcoming fiscal year, the Legislature’s nonpartisan fiscal advisor announced Wednesday.

The projection marks a stunning reversal from back-to-back years of unprecedented prosperity: The budget for California’s current fiscal year clocked in at a whopping $308 billion, fueled by a record $97 billion surplus that was by itself enough to treat every state resident to a $7,500 vacation. The year before, Newsom and lawmakers approved what was at the time a record-busting $263 billion budget that included a $76 billion surplus.

Although the outlook is sobering — not since the Great Recession have California’s revenue estimates been so weak, according to the Legislative Analyst’s Office — it could be worse, in ways both good and bad.

• The good news: California “is in its best-ever position to manage a downturn, by having built strong reserves and focusing on one-time commitments” rather than ongoing spending in the last two budgets, H.D. Palmer, spokesperson for the California Department of Finance, said in a statement. Indeed, Newsom has for months been sounding the alarm about lower-than-expected revenues, vetoing bills that he said would have cost taxpayers billions of dollars. And due to legislative Democrats’ “responsible approach, we are confident that we can protect our progress and craft a state budget without ongoing cuts to schools and other core programs or taxing middle class families,” Democratic Senate President Pro Tem Toni Atkins of San Diego said in a statement. (GOP lawmakers had a different assessment: “Democrats overtaxed Californians and grew government while ignoring investments in critical infrastructure like new water storage,” Assembly Republican Leader James Gallagher of Yuba City said in a statement.)
• The bad news: The Legislative Analyst’s fiscal outlook doesn’t take into account soaring inflation rates or the increasingly likely possibility of a recession. Due to inflation, “the actual costs to maintain the state’s service level are higher than what our outlook reflects,” the analyst’s office wrote. The estimated $25 billion deficit thus “understates the actual budget problem in inflation-adjusted terms.” And, if a recession were to hit, it would result “in much more significant revenue declines,” meaning California could bring in $30 to $50 billion less than expected in the budget window.

A lot could change between now and January — when Newsom will unveil his budget proposal for the fiscal year beginning in July — and between now and May, when Newsom will release a revised proposal following negotiations with lawmakers. They must reach a spending deal by June 15.

But what is clear is that the budget will pose political challenges for Newsom — who has not yet had to govern during a budget deficit — and for California’s newly elected lawmakers, who are set to be sworn into office on Dec. 5.

For one thing, a massive deficit could complicate Newsom’s efforts to levy a new tax on oil and gas companies. And for another, Newsom and lawmakers could be forced to slash, delay or downsize programs they’ve touted as signature achievements.

One program it might make sense to delay: Newsom’s $500 million plan to clean up homeless encampments, Legislative Analyst Gabe Petek said.

• Petek: “That’s a very good example of the type of pause we had in mind.”

But that may not go over too well with Newsom, who is under pressure to make a dent in California’s growing homelessness crisis — a problem he’s tied to the fate of the Democratic Party — and who is set to meet with local leaders on Friday to push them to develop more ambitious plans to reduce the number of people living on the streets.

 

Whoops!

 

The per-person growth is definitely top three.
#thewhale

 

Great work Californite.

 

I thought only Elon could lose 100 billion that fast.

HO HO HO

 

He'll move Twitter to TX once he gets another bribe handout subsidy tax-break from Abbot.

 

Texas has, uh, HUGE...tracts of land.

And massive corporate welfare.

https://www.texastribune.org/2021/12/09/corporate-tax-incentive-chapter-313-texas-legislature/