Friday, December 8, 2023

Road To California -- December 8, 2023

Big story of the day: California budget. Not being widely reported yet, but California in deep doo-doo.

  • WSJ: record $68 billion budget deficit;
  • discussed on the blog back in May, 2023;
  • PBS: Newson, who orchestrated this budget deficit, says the deficit is only$32 billion and manageable;
  • Politico: back in November, 2022 -- we saw it coming; only $25 billion deficit; after years off record cash;
  • AP: California budget deficit balloons; $68 billion; let's see what Moody says.

Problem easily solved: increase taxes on the wealthy. Maybe even start taxing unrealized gains. That's already done in housing.

2 comments:

  1. But gavin Newsom got his way for a bullet train to Vegas Bruce........ billions i heard ?

    ReplyDelete
    Replies
    1. I've gone from completely against the original Bullet Train in California to agnostic -- I still think the original California Bullet Train was a really, really stupid idea but I no longer care. LOL.

      However, with regard, I've had amazing experiences in southern California and Las Vegas and am wildly supportive of the LA-LV bullet train -- the two trains have very different pros and cons.

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