{"id":10358,"date":"2023-12-08T11:00:32","date_gmt":"2023-12-08T18:00:32","guid":{"rendered":"https:\/\/sandiegonewsdesk.com\/?p=10358"},"modified":"2023-12-07T11:34:04","modified_gmt":"2023-12-07T18:34:04","slug":"new-report-projects-massive-68-billion-deficit-under-one-party-rule","status":"publish","type":"post","link":"https:\/\/sandiegonewsdesk.com\/?p=10358","title":{"rendered":"New Report Projects Massive $68 Billion Deficit Under One-Party Rule"},"content":{"rendered":"

SACRAMENTO\u00a0\u2013 The nonpartisan\u00a0Legislative Analyst\u2019s Office (LAO)<\/a>\u00a0announced this morning that California has a projected $68 billion budget deficit through the next fiscal year, a sharp but entirely predictable turnaround from surpluses Governor Newsom bragged about just last year. This deficit will have significant consequences for education funding and other programs, as economic reality brings legislative Democrats\u2019 overspending and overpromising back down to earth.<\/p>\n

The Vice Chair of the Senate Budget and Fiscal Review Committee,\u00a0Senator Roger Niello<\/a>\u00a0(R-Fair Oaks)\u00a0offered his reaction to the LAO\u2019s announcement:<\/p>\n

\u201cDespite all warnings that it was unsustainable, California\u2019s tax-and-spend majority increased state spending by $116 billion over the last six years, nearly doubling the general fund budget in that short time. Republicans cautioned that this level of spending would lead to greater deficits, and it would be more prudent to show restraint.\u00a0Unfortunately, the majority party ignored those warnings, enacting a budget in June that already projected a $14 billion deficit, even before the LAO\u2019s new report revised the deficit to $68 billion.\u201d<\/p>\n

Senate Minority Leader Brian W. Jones (R-San Diego)\u00a0added, \u201cGovernor Newsom and Democrat lawmakers turned a $100 billion surplus into a $68 billion deficit in just 2 years. Even more alarming, the five-year deficit forecast is an astounding $155 billion, thanks to the overspending Democrats jammed into the last few budgets. California built up significant budget reserves under the requirements of a bipartisan 2014 initiative, but Democrats have managed to outspend even what the reserves can cover.<\/p>\n

\u201cDuring my first budget cycle as an Assemblymember in 2011-2012, California operated with a $143 billion budget. Fast forward to the 2023-2024 budget cycle, Democrats\u2019 spending soared the budget to a staggering $311 billion! In a mere decade, our state\u2019s budget has more than doubled in size, an exponential surge, while the financial capabilities of Californians certainly haven\u2019t undergone such a monumental increase as many struggle to afford to even stay in the state.<\/p>\n

\u201cHopefully, the supermajority will see it is time for a more realistic budget strategy, instead of throwing money at a laundry list of projects that sounds nice on the national television debate stage.\u201d<\/p>\n

BACKGROUND:<\/p>\n

California Senate Republicans<\/a>\u00a0have long advocated for\u00a0fiscal discipline<\/a>, especially when California saw record budget surpluses becoming record spending. Below are a few examples of misplaced priorities and misused tax dollars contributing to the budget shortfall:<\/p>\n