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NEWS AND VIEWS THAT IMPACT LIMITED CONSTITUTIONAL GOVERNMENT

"There is danger from all men. The only maxim of a free government ought to be to trust no man living with
power to endanger the public liberty." - - - - John Adams

Tuesday, May 5, 2020

Dems Drive California to Bankruptcy



Liar Asshole Alert
Gavin Newsom is a Stone Cold Liar
  • The Coronavirus did not cause an economic slowdown. Democrats putting the entire state under House Arrest and forcing businesses to close tanked the economy - - - - - and then, shock, with no one working taxes were not being paid to the treasury.
  • After deliberately destroying the economy, Democrats want the Feds to bail them out with printing press money.


(Bloomberg News)  -  California Governor Gavin Newsom said the economic slowdown caused by the coronavirus pandemic has left the state with a budget deficit that will reach into the “tens of billions” of dollars in the coming fiscal year.

Newsom, a first-term Democrat, is scheduled to revise his budget proposal by May 14 with the latest estimates on revenue and spending. In January, he proposed a $153 billion general-fund budget that increased spending by about 2% from the current year that ends June 30 and socked away about $5 billion more into rainy day funds.

“Last year I did a May revise with a $21.4 billion budget surplus,” Newsom said Friday during his daily briefing on the state’s response to the outbreak. “This year I will be doing a May revise looking at tens of billions of dollars in deficit. We just went tens of billions in surplus in just weeks to deficits.”

The shortfall could total $35 billion.

Bloomberg.com


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