A massive miscalculation in revenue forecasting allowed California Gov. Gavin Newsom to boast of a $97.5 budget surplus that ultimately never materialized. It has since become a $44.9 billion deficit.
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How California’s bursting budget morphed into a $45 billion deficit in just two years
A massive miscalculation in revenue forecasting allowed California Gov. Gavin Newsom to boast of a $97.5 budget surplus that ultimately never materialized. It has since become a $44.9 billion deficit.