Explainers
California’s budget whiplash: From a record-setting surplus to a massive shortfall in one year
When budget season arrived in 2022, state lawmakers enjoyed the excitement and possibilities 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 the two ensuing years have played out like a mirror universe as the state stares down a budget deficit […]