Were a private corporation to cook its books like the state government does, its executives could wind up in jail for fraud.

In its annual fiscal outlook, issued today to prepare lawmakers for the upcoming budget process, the Legislative Analyst’s Office estimates that California will face a $2 billion deficit next ...

The Newsom administration is predicting an additional $12-billion budget deficit for 2025-26. The shortfall comes in addition to $27.3 billion in remedies Democrats previously agreed to adopt to ...

California Gov. Gavin Newsom has signed a budget that pares back a number of progressive priorities to close a $12 billion deficit.

The much-revised 2024-25 state budget that Gov. Gavin Newsom released last week contains hundreds of spending reductions and other actions to close what he says is a $44.9 billion deficit. Exactly ...

Gov. Gavin Newsom today announced that California is facing a $12 billion budget deficit, spurred by soaring costs for social services as the state’s economy teeters from President Donald Trump ...

With tax revenues from high-earning Californians rebounding in recent months, the Legislature’s nonpartisan fiscal analyst projects that the state budget remains “roughly balanced,” though ...

However that number never appears in budget documents and was merely a verbal boast from Newsom. A chart in then newly revised 2024-25 budget contains the pertinent numbers of the miscalculations.

The much-revised 2024-25 state budget that Gov. Gavin Newsom released last week contains hundreds of spending reductions and other actions to close what he says is a $44.9 billion deficit. Exactly ...