This is their history. Their tax structure makes planning

This is their history. Their tax structure makes planning
by Raoul (2024-02-21 11:00:05)

In reply to: California budget deficit $15B higher than expected. posted by krudler

extremely difficult. Thus they need (and thanks to Jerry Brown, have) a solid rainy day fund contingency. But even that could get impacted.

Part of the issue is spending, and part is revenue. California has a 5.1% unemployment rate - only District of Columbia and Nevada are higher. And GDP growth in CA in Q3 was an OK 4.8% (basically average), but that well lagged Nevada's 6.3% so I'd bet on NV's improvement in unemployment before CA.

Replies:

Actually the Governator started the rainy day fund in Ca - SixShutouts66 2024-02-21 14:04:23
- Post Covid, CA's unemployment rate improved faster than - Raoul 2024-02-21 14:29:55
What's driving the higher than average unemployment - krudler 2024-02-21 11:08:47
- Could it be that CA has a larger than average - Tex Francisco 2024-02-21 13:22:49
  - there are a substantial amount of cash only businesses - jt 2024-02-21 13:25:10
    - There's also the Roundup in Lafayette! * - enginerd194 2024-02-21 13:55:35
- They have been high for a while but pre-COVID they were - Raoul 2024-02-21 12:29:18
- Nice weather makes it a destination - gozer 2024-02-21 12:21:02
  - If I never have to take a business trip to Minnesota during - krudler 2024-02-21 12:24:33
    - I think there's some truth to this - ravenium 2024-02-21 13:37:38