California's Financial Problems and Gov. Newsom's Response
California Gov. Gavin Newsom attributes the state's $28 billion deficit to climate change, stock market downturn, high inflation, and tech industry changes. Newsom and Legislature took early action to reduce the deficit, criticized by Republicans for being 'gimmicky.' Newsom will speak at the Vatican on climate change despite traveling contributing to carbon emissions. No established link between climate change and winter storms experienced in California. Newsom was on vacation in Mexico during the worst snowstorms.
Key Points
- Deficit caused by stock market downturn, high inflation, and tech industry changes
- State's response includes program cuts, new revenue, internal borrowing, and funding delays
- No established link between climate change and winter storms in California
Cons
- Deficit attributed to climate change, stock market downturn, and tech industry changes
- Early action to reduce deficit criticized as 'gimmicky'
- Newsom traveling to speak at the Vatican on climate change despite contributing to carbon emissions