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Gavin Newsom confronts $18B budget disaster
he helped create

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Posted By: Mercedes44, 1/8/2026 7:44:31 AM

California Gov. Gavin Newsom is waking up to a $18 billion budget hangover — and fixing it won’t be pretty. After years of surpluses, the Golden State is facing staggering deficits that could balloon to $35 billion in the coming years, according to the state’s Legislative Analyst, after a years-long spending spree combined with federal funding cuts and a struggling economy. Newsom — who’s expected to launch a 2028 presidential bid — unveils his plan to stanch the bleeding in a major speech Thursday. In it, he’ll posture as presidential while aiming to reassure cash-strapped Californians that he’s leaving leave the state in tiptop shape in his final year in office.

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Reply 1 - Posted by: bpl40 1/8/2026 7:51:06 AM (No. 2051296)
When the Federal Government blows a budget, they print money. What does a State Government do? Get other States to pay for it?
4 people like this.

Reply 2 - Posted by: Jesuslover54 1/8/2026 8:26:59 AM (No. 2051334)
No bailout. If they want more money they can raise gas taxes.
6 people like this.

Reply 3 - Posted by: Strike3 1/8/2026 8:53:07 AM (No. 2051358)
The Thursday speech should be very entertaining. Better make a trip to wally world to stock up for it. How many ways can you spin "We are flat broke, bleeding productive people and businesses and in intolerable debt but I should be your president because..."
8 people like this.

Reply 4 - Posted by: Kafka2 1/8/2026 1:46:40 PM (No. 2051589)
What is wrong with Democrats? Newsom managed to turn a state budget surplus into a an $18 billion deficit. It seems that all democrats flunked elementary economics. And, now he wants to be president. I guess he wants to outdo Brazil or Venezuela.
2 people like this.

Reply 5 - Posted by: mifla 1/9/2026 6:48:32 AM (No. 2051898)
He is term limited and on his way out. He is leaving the mess he created for the next governor.
0 people like this.

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