The unctuous governor of California, Randall Flagg doppelganger Gavin Newsom, had himself one of the healthiest rainy day funds in any blue state ever – a smidge over $98B in the bank last year. It must have been like being out at sea on a carrier for 3 months with all that pay stacking up and then hitting Subic Bay…or even Reykjavik, Iceland.

Protect your women and children, we’re hittin’ the Ville tonight!

As of this morning’s news, it seems there’s been a precipitous reversal in the state’s fortunes. How bad?

OFF A CLIFF covers it nicely.

‘Very Volatile Moment’: Newsom Slashes Budget After Turning $98 Billion Surplus Into $22.5 Billion Deficit in Single Year

…Newsom announced the deficit in a speech unveiling his proposed 2023-24 budget, which includes $297 billion in spending proposals, an $11 billion decrease from last year. The Democrat acknowledged that the state is “in a very volatile moment … of uncertainty,” which he noted could worsen over the coming months.

YOWSAHS

But don’t pick on him – it’s not his fault, man. He manages money just fine – manages to hand it out to everyone. Nah. The problem is the CA taxpayers.
Those dang people won’t stop leaving.

…The governor dismissed the “old narratives” that Democrats are “profligate” and incapable of “managing budgets,” instead laying the blame on California’s dwindling tax base, which is now roughly half of what it was last year.

It was an atypical speech for Newson, who has a history of dispensing politically advantageous cash. Newsom sent $600 stimulus checks to each Californian, which landed in mailboxes shortly before a 2021 vote to recall him from office. Last year, the governor spent the $100 billion surplus on temporary spending for homelessness, climate, mental health, and other programs.

Now, just five days into his second term, Newsom is singing a different tune. The governor announced a strategy of spending “delays,” including on mental health, preschool “inclusion” grants, climate programs, and University of California capital investment. His budget also proposes using federal dollars to make up for reductions to the state’s much-touted climate initiatives.

For a fellow who’s spent lots of time snarking at Ron DeSantis, this is going to put his holier-than-thou act in an unflattering light. As of right now, Florida is projected to have a $13.5B surplus in 2023, and that’s after dealing with the on-going recovery from the catastrophe that was Hurricane Ian. It also, if I remember correctly, contains NO federal funds in the figure – it’s all tax (sales, bed, business, etc – we don’t have an income tax) and fees revenue.

Other states are doing pretty well, too. It must be a national conspiracy to make this too-cool-for-school guy look bad. Surely someone else in a big state is in as much trouble as…and, no.

…California’s projected deficit comes as many other states are enjoying large surpluses, in large part due to a deluge of federal funds over the past three years to fight the coronavirus pandemic. On Monday, Texas announced a record $188.2 billion in general fund revenue and projected it would have a $32.7 billion surplus over the two-year period ending in August 2023. In West Virginia, Gov. Jim Justice is proposing tax cuts to spend some of the $1.3 billion surplus there.

An October analysis of the 15 largest states by Fitch Ratings showed California was the only state experiencing year-over-year tax revenue declines. While the state’s employment has rebounded over the past 14 months, personal income tax withholding is down, in part because salary bonuses and initial public offerings have declined, according to the LAO, which forecast the deficit in November.

Gawd, you just hate to see it….I kid, I kid. I am smirking like a hyena.

As you probably figured, according to the Green weenies, environmental causes are hardest hit and we’reallgoingtodienow.

…Environmental advocates say that would erase recent gains in funding for climate-change programs.

“Given how far behind we are, we have to sustain our commitment to climate action every year,” said Mary Creasman, CEO of advocacy group California Environmental Voters in a statement. “To further delay these investments will further compound the climate crisis and the cost of inaction will be far worse.”

It’s sure gonna chap their hides if the few people who truly want to live in CA – or the unfortunates who can’t move – are all still there in 5 years post-cutbacks. They’ll have to adjust the outcome excuses for the scam yet again.

Here’s an idea for the slick huckster in chief – try not fleecing the people who pay the freight. They put out a disproportionate amount of cha-ching for what they’re getting.

…According to the state Department of Finance, roughly 49% of personal income tax collected by California in 2020 came from just 1% of tax filers. Mr. Newsom opened the briefing Tuesday with a chart showing that capital gains as a percentage of personal income in California was down to 5.52% from nearly 10% in the 2022-2023 budget year.

State income tax collections in 2022 were significantly lower than 2021, partly due to a lagging stock market.

Yeah, right – blame the stock market for lagging income tax collections. Why no mention of the outflow numbers of Californians who used to pay those taxes?

In 2021, about 360,000 people relocated from California to another state–or, in some cases, country. That’s up from about 275,000 the year before, and both of those numbers represent a significant increase from pre-pandemic departure rates.

…Of course, people move in and out of states all the time, and the pandemic created new incentives and offered new opportunities for relocation. But, in California, departures far outnumber arrivals. The state’s population dropped by more than 182,000 in 2020 and then declined by 117,552 in 2021.

…Still, significantly more people moved out of California than into the state during 2020 and 2021. In fact, just one U.S. state has had a larger exodus in recent years. And, data thus far suggests that the trend continues in 2022. So far this year, the ratio of people moving into California to those moving out of California is 37 to 100.

Besides crime, whacko COVID fascism, rolling blackouts, insane fuel, and electricity prices, ad nausem, why would anyone want to leave? Maybe they’re tired of the way their hard-earned dollars keep getting blown up on people who don’t rate them. Example #8465 – the budget is BUSTED, but what does Newsom keep in it?

…California public schools, where students have performed poorly since the pandemic closures, will see a funding boost. Newsom is also maintaining billions in homelessness spending and won’t delay plans to roll out health coverage for illegal immigrants.

Priorities, amigos. Priorities.

Time to hitch the team to the wagon, and head on out if you can.

It’s a big, FUN country.