If this nation would ever consider Gavin Newsom as presidential material, now is the time to listen up. California Governor Gavin Newsom (D), announced a revised budget plan to address the state’s now burgeoning $31 billion deficit.
According to the Associated Press, reportedly increasing by $10 billion, since January, the CA state budget deficit has continued to grow. While the state’s budget is balanced this year, by Newsom dipping deeply into reserves and borrowing, in the coming years the CA is committed to spending more money than it will take in from taxpayers. And notably, the tax-payers just continue to flee in mass.
Since the state receives 50 % of its taxpayer dollars from 1% of the population, when the economy and stock market are doing well, the state receives more in taxes. However, when the economy nears the brink of a recession, the wealthy pay less in taxes to be spent.
In a California Press Release it states-
“While the May Revision does not forecast a recession, it recognizes increased risks to the budget since January that could significantly change the state’s fiscal trajectory in the near term. Taking this into account, the plan reflects $37.2 billion in total budgetary reserves, including $22.3 billion in the Budget Stabilization Account.”
-California Press Release
Newsom, known for his more than progressive, leftist socialist policies, that cost California tax-payers billions, claimed-
“This was not an easy budget, but I hope you see we will try to do our best to hold the line and take care of the most vulnerable and most needy, but still maintain prudence,”
-CA Governor Gavin Newsom (D)
Reportedly, Newsom’s latest proposal, calls for a spending reduction of $1 billion. Wow – that’s a drop in the bucket compared to what his spending plan is in reality. No wonder he is not looking at reparations for blacks affected by slavery any too soon. His research committee has already spent quite a lot just posturing how much California owe them.
According to the hill.com-
“California, officially a “free state” during the era of slavery, a reparations task force just approved recommendations that could give each Black resident $1.2 million as compensation for slavery and other injustices. If this becomes law, it will cost the state of California an estimated $800 billion”.
-Thehill.com
Republican Assembly Leader, James Gallagher said it best-
“Only Gavin Newsom could turn a $100 billion surplus into a $31 billion deficit in less than a year,”... “His approach to closing this budget gap is more of the same. His cuts to drought programs are dangerous, his “fiscal gimmicks” are shortsighted, and his words about good government and efficiency are yet another empty promise. Californians deserve better.”
-James Gallagher, Republican Assembly Leader
So America, if you want the whole nation to be run as fiscally as sound, as Newsom runs California, with policies that send tax-payers fleeing his oppressive, restrictive, socialist state – be forewarned. Newsom may be able to escape impeachment attempts, but Californians cannot escape his poor leadership, over the top “equity” policies, and his taxation of both private citizens as well as businesses large and small, who are closing and / or moving as their only alternative. Newsom is not good for California or this nation.
His track record proves it.
“The American people expect more from Congress. They expect fiscal responsibility and common sense. They expect us to return to the pay-as-you-go budget rules that we had enacted in the past that helped us establish a surplus, however briefly.”
-Melissa Bean