California Budget Papers Over $20B Deficit, Ignores Day Of Reckoning – Folsom Times

California Budget Papers Over $20B Deficit, Ignores Day Of Reckoning – Folsom Times

When Gov. Gavin Newsom and legislative leaders were drafting a more-or-less final 2025-26 state budget last month, they were closing what they described as a $12 billion deficit, a number that the state’s media repeatedly cited. It was the wrong number; it minimizes the state’s chronic gap between income and outgo, as the state’s official budget summary released this week confirms. The budget projects that the state will receive $208.6 billion i…