Governor Gavin Newsom initially warned of a projected $66 Billion 2023-2024 California State Budget Deficit for the $297 billion Budget which amounts to $20,000 for each citizen. The estimated deficit is expected to be at least $25 billion after some budget adjustments. There is an additional unknown deficit for unfunded State and Municipal liabilities such Full Article…
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Spending Matters In Times of Inflation and High Debt
If inflation ever gets out of control, it’s easier to deal with it in a lower-debt environment. High levels of debt are problematic. Growing debt means growing spending, along with the government expanding in size and scope. Generally, such spending crowds out the private sector. This dispels the hope that more spending will produce economic Full Article…
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