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Economic Reality Bites As Newsom Faces A Big California Budget Problem

BY DAN WALTERS
CalMatters, Commentary
December 5, 2023

During his much ballyhooed, nationally televised debate with Florida Gov. Ron DeSantis last week, California Gov. Gavin Newsom boasted that the state’s economy is “booming” and leads the nation.

“California has no peers,” Newsom declared. “California dominates.”

About 18 hours later, reality reared its ugly head. The Legislative Analyst’s Office revealed that state tax revenues are running tens of billions of dollars behind expectations

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