Posted inExplainers

California’s budget whiplash: From a record-setting surplus to a massive shortfall in one year

This time last year, there was excitement and possibility over how to spend a record $97.5 billion budget surplus, a shocking figure coming at the end of a bruising COVID-19 pandemic. But this year, excitement has turned into a fight over what not to cut as the state stares down a $31.5 billion budget gap. […]