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California Gov. Gavin Newsom proposed $14 billion in budget cuts on Thursday because of the coronavirus, with more than half coming at the expense of public schools already struggling to educate children from afar during a pandemic.
The cuts are part of a plan to cover a $54.3 billion budget deficit caused by plummeting state revenues after a mandatory, statewide stay-at-home order forced most businesses to close and put more than 4.7 million people out of work.
On Thursday, Newsom proposed filling that hole through a combination of cuts, tax increases, canceled spending, internal borrowing and tapping the state's reserves. It also includes a 10 percent pay cut for all state workers, including the governor himself.
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Newsom said all of those cuts could be avoided if the federal government approves a $1 trillion aid package for state and local governments.
The Fed can't continue printing funny money to bail out all these states. In the end we'll end up a Weimar Republic-style institution where people are wheeling around barrels-full of dollar bills to buy a loaf of bread.
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California Gov. Gavin Newsom proposed $14 billion in budget cuts on Thursday because of the coronavirus, with more than half coming at the expense of public schools already struggling to educate children from afar during a pandemic.
The cuts are part of a plan to cover a $54.3 billion budget deficit caused by plummeting state revenues after a mandatory, statewide stay-at-home order forced most businesses to close and put more than 4.7 million people out of work.
On Thursday, Newsom proposed filling that hole through a combination of cuts, tax increases, canceled spending, internal borrowing and tapping the state's reserves. It also includes a 10 percent pay cut for all state workers, including the governor himself.
...
Newsom said all of those cuts could be avoided if the federal government approves a $1 trillion aid package for state and local governments.
Newsome can kiss off regarding a federal bailout.
California created their own problems. Now they can fix them.
You give $500 to each illegal alien and you want a federal bailout? I don't think so.
Exactly! He's essentially asking law-abiding Americans to help his state give money to illegal aliens. Furgitaboudit.
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