California’s Governor Inherits $22B Debt

California’s next governor inherits a crumbling unemployment insurance system drowning in over $20 billion in debt—accumulated for two decades due to political gridlock, pandemic borrowing, and mismatched funding. Despite no recession, millions remain jobless, and the fund could hit $22 billion in the red by 2026. Fixing it means painful choices: slash benefits or hike payroll taxes—but lawmakers have stalled for years. The only real fix? Stop delaying and act now—or let the debt keep bleeding. Support the show:Get a discount at https://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/9b6e4b38be450817