California is broke, but it’s not too late for the rest of us
Fox News
California faces an $18 billion deficit by 2026-27 despite record tax revenue, but structural spending problems create a cautionary tale for fiscal policy.
Rather than tightening belts or prioritizing necessities, lawmakers have layered on new programs, expanded benefits and made long-term promises based on temporary revenue spikes. This isn’t a one-off crisis for California. It’s a multiyear budget mess that keeps getting deeper. Ted Jenkin is president of Exit Stage Left Advisors and partner at Exit Wealth.
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