Facing $54.3 billion deficit, California declares budget emergency

June 26, 2020

Faced with a $54.3 billion deficit, the state of California declared a budget emergency on Thursday that will allow the use of reserve funds in response to the ongoing coronavirus crisis.

Gov. Gavin Newsom issued a proclamation of a budget emergency that he says will clear the way for the California Legislature to pass legislation allowing the state to draw from its rainy day fund, the Budget Stabilization Account. The Budget Stabilization Account currently consists of $16.1 billion in reserves, according to Newsom’s proclamation.

The state must use a portion of the reserves in the 2020-2021 fiscal year, which begins next week, in order to address the coronavirus pandemic, according to the proclamation.

Newsom’s office said in a press release the proclamation will ensure the availability of funding for medical and personal protective equipment; services for vulnerable populations; and expenditures that would arise from a potential surge in coronavirus hospitalizations.


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Francesca Bolognini

Never ceases to amaze me. Ya’ll live in this great state and all you seem to want to do is tear it down. California is much larger than many countries. Our Economy is the fifth largest IN THE WORLD and yet nearly every one here seems surprised or outraged or otherwise in turmoil over the fact that we have a large staff of professionals running it. How else did you expect things to get done? You’re busy writing half assed criticisms. Doesn’t seem to bother you when some industrialist is making an obscene amount of money, not paying his workers squat and not paying taxes. Apparently you are fine with those guys using all our expensive infrastructure and paying nothing for the privilege. So, does that make you part of the “proud to have billionaires” set? Cause I NEVER hear a complaint about that kind of thing on here.


At least when we are paying government employees, they are putting it back into the local economy. As for anyone who wants to leave? Let ’em! We have a housing shortage anyway. We have had people flooding into the state for decades. Make sure they are educated and kept healthy and we’ll be just fine. Our economy is doing no worse than the rest of the world right now. Pretty much everywhere else on the globe is in the same boat or worse economically. That would be because of the PANDEMIC, which I guess some of you missed hearing about. Not to distract ya’ll from your political rhetoric, but the pandemic is a thing.


Oh yes, and one last thing, especially for those who want to blame the immigrants for our current state of affairs : The studies done on the cost of immigrants to society show that they contributed

$6 BILLION more into the economy than it cost us to have them.


That is the math. Also, perhaps you should do a bit of research into countries in Europe that went thru with the social programs we tried to install in this country but were derailed by the neoliberals and neoconservatives (both just fascists in my book). Those countries have the education, the health care the 6 weeks of vacation time the better food, housing, family leave, etc., etc. for much less than it would cost us to do those things here in the private sector, their standard of living is much higher, their crime level a small fraction of ours and they are a hell of a lot happier. Don’t spend all their free time bitching in comments sections, for instance. But we can’t have that here because American voters – on BOTH SIDES – have been highly trained to vote against themselves. But I’m sure you feel vastly superior for it!


I’m going for a record on the down arrows on this one guys, don’t let me down! Vote me down. No one will know it was you who did! Don’t that make you feel “powerful”?


commonsenseguy

We have been heading for this here in California long before this year. Thirty years of unfunded mandates to over compensated state employees, over taxing and over regulations that continues driving business out of the state, and the biggest welfare state in the nation promising to take care of you from cradle to grave. That doesn’t even included the devastating effects of illegal immigration that has put a strain on many areas of our state economy. We don’t hold these Democrat swindler’s accountable. We get what we deserve. Guess who’s money their coming after again to fix their incompetence.