state budget deficit projection

CA 2025-2026 State Budget Deficit at $2 Billion, Expected To Grow Exponentially

November 21, 2024 2:45 amNovember 21, 2024 2:46 am

The Legislative Analyst’s Office unveiled the California state budget forecast for the 2025-2026 fiscal year on Wednesday, showing a $2 billion deficit for the year, but with the number expected to grow exponentially if more cuts aren’t made soon. California’s...

Newsom’s Budget Revisal Proposes 10,000 Vacant State Jobs Being Cut, Cuts To 260 State Programs

May 11, 2024 7:45 amMay 11, 2024 7:45 am

During his May revised 2024-2025 state budget proposal announcement on Friday, Governor Gavin Newsom proposed cutting around 10,000 vacant state jobs, as well as spending to 260 state programs. Back in January, Governor Newsom released his first 2024-2025 state budget...

California Budget Deficit Balloons To $73 Billion According to Legislative Analyst

February 20, 2024 6:43 pmFebruary 20, 2024 6:43 pm

According to a new updated revenue forecast report released by the Legislative Analyst’s Office on Tuesday, California’s budget deficit for the 2024-2025 year was increased from the previously estimates of $58 billion and $68 billion to $73 billion. California’s state...

California Budget Deficit Climbs To $68 Billion

December 7, 2023 7:51 pmDecember 7, 2023 7:51 pm

The Legislative Analyst’s Office (LAO) announced on Thursday that the state budget deficit now stands at $68 billion for the 2024-2025 fiscal year, $10 billion higher than initial projections showed earlier this month. California’s state budget has fluctuated wildly in...

Legislative Analyst Reports: California Facing $58 Billion Budget Deficit Over Next Few Years

December 1, 2023 10:39 pmDecember 1, 2023 10:39 pm

According to a new report released by the Legislative Analyst’s Office (LAO) on Friday, California will likely face a budget deficit of $58 billion over the next few years, with massive spending cuts likely to come because of less than...