California's Financial Outlook
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
- Potential rise in crime due to budget adjustments