Does the State of California Have a $40 Billion Budget Deficit?

By Tom Sheehy California is now starting to approach about a $40 billion budget deficit. Of course, it's unfortunate but true that revenue forecasters are usually behind the curve when we're going into a recession, which means that a $40 billion budget deficit may be the best-case scenario. The number could grow considerably more, perhaps as high as $50 billion if we do go into a recession. Read more: https://www.sheehystrategygroup.com/news/2023/5/31/california-budget-deficit-approaches-40-billion #cabudget #cagov #caleg