State budget ‘balanced’ with massive new debt

[Source: CalMatters /Dan Walters] Gov. Gavin Newsom says the new California state budget is balanced, but in reality it has a huge deficit that will be covered by indirect borrowing. Last month, Gov. Gavin Newsom signed a 2020-21 state budget he described as “balanced, responsible and protects public safety and health, education, and services to Californians Read More…