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California budget slashing

Another Democrat state unravelling:

Gov. Newsom slashes billions in new budget proposal
  • Cancel $6.1 billion in program expansions and spending increases

  • Use all $16 billion in the rainy day fund over the next three years. Combined with money from two other funds, Newsom is proposing using $8.8 billion in reserve funds for the 2020-2021 fiscal year.

  • Borrow and transfer $4.1 billion in special funds

  • Temporarily limit to $5 million the amount of credits a taxpayer can use in a year

Quote:He also eliminated a proposal to provide health care coverage to immigrants over 65 living in the county illegally, which would’ve cost an estimated $112 million. He similarly seeks to cancel other plans for expanding Medicaid.

Smile  Are you saying they should do like NZ, and just borrow more ?


New Zealand budget: Robertson lays out $50bn plan to return jobs to pre-Covid-19 levels

Huge spending plans rely on long-term borrowing but could save nearly 140,000 jobs, Treasury modelling suggests.....
Yes. That's exactly what I'm saying.

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