Financial guru Robert Kiyosaki predicts a grim future for California, citing the state's budget deficit, tax hikes, spending cuts, and potential rise in crime. Despite being the fifth largest economy, California faces significant financial challenges.
Key Points
California reported a massive deficit of $68 billion in 2023
State still $26.7 billion in the red in May 2024
Budget passed with $16 billion in spending cuts
Violent crime up 3% in 2023 compared to 2022
Property crime also on the rise in California
Cons
California facing a massive budget deficit
Spending cuts affecting key areas like affordable housing and corrections