{"id":50318,"date":"2023-05-08T08:36:33","date_gmt":"2023-05-08T12:36:33","guid":{"rendered":"https:\/\/www.rightwinggranny.com\/?p=50318"},"modified":"2023-05-08T08:36:33","modified_gmt":"2023-05-08T12:36:33","slug":"how-to-go-from-a-budget-surplus-to-a-budget-deficit","status":"publish","type":"post","link":"https:\/\/www.rightwinggranny.com\/?p=50318","title":{"rendered":"How To Go From A Budget Surplus To A Budget Deficit"},"content":{"rendered":"<p>In 2019, Gavin Newsom became Governor of California.<\/p>\n<p>In November 2022, <a href=\"https:\/\/timesofsandiego.com\/opinion\/2022\/11\/21\/californias-big-budget-surplus-evaporates-as-income-tax-revenues-fall\/\" target=\"_blank\" rel=\"noopener\">The Times of San Diego<\/a> reported:<\/p>\n<p style=\"padding-left: 40px;\"><strong>Six months ago, while proposing a revised state budget, Gov. Gavin Newsom bragged about the state\u2019s having a $97.5 billion surplus that would finance some landmark expansions of social and educational services.<\/strong><\/p>\n<div class=\"wp-block-image\" style=\"padding-left: 40px;\"><\/div>\n<p style=\"padding-left: 40px;\"><strong>\u201cNo other state in American history has ever experienced a surplus as large as this,\u201d Newsom told reporters as he unveiled a 2022-23 fiscal year budget that topped $300 billion and, with a few tweaks, was eagerly adopted by the Legislature.<\/strong><\/p>\n<p style=\"padding-left: 40px;\"><strong>Never mind.<\/strong><\/p>\n<p style=\"padding-left: 40px;\"><strong>Last week, the Legislature\u2019s budget advisor, Gabe Petek,\u00a0<a href=\"https:\/\/lao.ca.gov\/reports\/2022\/4646\/CA-Fiscal-Outlook-111622.pdf\">issued a sobering report\u00a0<\/a>on the state\u2019s finances, saying revenues are likely to fall $41 billion short of what Newsom and legislators anticipated, leaving the state with a $25 billion projected deficit for the 2023-24 budget. Moreover, he said, if recession hits, as many economists expect, the gap between income and outgo could be much higher.<\/strong><\/p>\n<p>At the rate it&#8217;s going, things are only going to get worse.<\/p>\n<p>On Sunday, <a href=\"https:\/\/www.foxnews.com\/politics\/california-reparations-panel-approves-payments-1-2-million-every-black-resident\" target=\"_blank\" rel=\"noopener\">Fox News<\/a> reported:<\/p>\n<p class=\"speakable\" style=\"padding-left: 40px;\"><strong>The California Reparations Task Force formally recommended that the state offer payments of up to $1.2 million to every qualifying Black resident.<\/strong><\/p>\n<p class=\"speakable\" style=\"padding-left: 40px;\"><strong>The task force held a public meeting in <a href=\"https:\/\/www.foxnews.com\/category\/us\/us-regions\/west\/california\" target=\"_blank\" rel=\"noopener\">Oakland, California<\/a>, on Saturday and voted on the final set of recommendations to be sent to the state&#8217;s legislators. The nine-member panel called on the state to offer its Black residents a formal apology in addition to the payments.<\/strong><\/p>\n<p style=\"padding-left: 40px;\"><strong>&#8220;Reparations are not only morally justifiable, but they have the potential to address long-standing racial disparities and inequalities,&#8221; Rep. Barbara Lee, D-Calif., said after attending the meeting.<\/strong><\/p>\n<p style=\"padding-left: 40px;\"><strong>The panel&#8217;s recommendation breaks payments down by types of historical discrimination. For instance, Black residents affected by redlining by banks would receive $3,366 for each year they lived in California from the early 1930s to the late 1970s, amounting to up to $148,099.<\/strong><\/p>\n<p style=\"padding-left: 40px;\"><strong>Similarly, Black residents could receive roughly $2,352 in compensation for over-policing and mass incarceration for each year they lived in California between 1970 and 2020. Those payments could amount to $115,260.<\/strong><\/p>\n<p style=\"padding-left: 40px;\"><strong>In total, from these and other payments included in the plan, a Black Californian who is 71 years old and has lived in California his entire life could receive up to $1.2 million, according to analysis from the New York Times.<\/strong><\/p>\n<p>Where is this money going to come from? Were Black residents the only people impacted by discrimination? It&#8217;s interesting to see reparations in California as California was admitted to the Union as a &#8216;free state.&#8217; California&#8217;s constitutional ban on slavery went into effect in 1850 (that ban was not necessarily effective in preventing slavery, but there was a ban). Is Massachusetts going to pay reparations to the Irish immigrants who couldn&#8217;t find jobs after their indentured servitude was over because of discrimination?<\/p>\n<p>Discrimination based on race, religion, or ethnic origin is wrong, but reparations are not the answer.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In 2019, Gavin Newsom became Governor of California. In November 2022, The Times of San Diego reported: Six months ago, while proposing a revised state budget, Gov. Gavin Newsom bragged about the state\u2019s having a $97.5 billion surplus that would &hellip; <a href=\"https:\/\/www.rightwinggranny.com\/?p=50318\">Continue reading <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-50318","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/50318","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=50318"}],"version-history":[{"count":2,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/50318\/revisions"}],"predecessor-version":[{"id":50331,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=\/wp\/v2\/posts\/50318\/revisions\/50331"}],"wp:attachment":[{"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=50318"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=50318"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rightwinggranny.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=50318"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}