Thinker101
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- Mar 25, 2017
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After two years of budget surplus, the state of California will likely face a $25 billion budget deficit next year driven primarily by high inflation and a weakened economy.
The deficit is primarily being driven by a significant decline in income tax revenue and stock market drop-offs, though the analysts noted that the ongoing layoffs in the tech sector are also contributing to the deficit.
Go woke, go broke! California warns state budget will plunge $25 billion into the red in 2023
The deficit is primarily being driven by a significant decline in income tax revenue and stock market drop-offs, though the analysts noted that the ongoing layoffs in the tech sector are also contributing to the deficit.
Go woke, go broke! California warns state budget will plunge $25 billion into the red in 2023