Can you explain to Californians how we moved from $100 billion surplus to such a significant deficit in just a few years?
Gavin Newsom: Climate Change
(twitter.com)
🧠 These people are stupid!
That was also a lie. California had $100 billion all right, all the democrats crowed about it. The state of California also had before and still has currently a one TRILLION dollar unfunded public employee pension liability ticking like a time bomb ready to go off and obliterate that state's finances. California never had a surplus, the politicians would only tell you about the cash they had on hand, never told you about the state's liabilities. Taxes and borrowing will skyrocket in California as those pensions come due to be collected, or the state will default.
Illinois and New York, Connecticut also are in the same boat. The democrats running those states all used the pension money to turn the state instead of putting it aside. They all want the federal government to bail out their states public employees pension system, of course with tax money of those living in orher states
It's a huge problem no democrat will talk about openly.
They want red states that are solvent to pay for the pension obligations they ignored.
One of the many reasons why I left Cally, but I thought it was closer to $1.5 trillion.
It has been a few years since I checked so might be wrong on that debt number.