California’s Budget Now Affordable, Multibillion-Dollar Deficit Resolvable: Legislative Analyst’s Office

With a previously estimated $31 billion deficit, now California’s spending plan for the upcoming year is affordable, according to a recently released budget review by the state’s Legislative Analyst’s Office, which revised earlier estimates and found that the plan will resolve the state’s projected deficit.

The California State Capitol building in Sacramento, Calif., on April 18, 2022. John Fredricks/The Epoch Times

In the 2023–24 fiscal year spending plan review (pdf) released Aug. 16 analyzing the state budget, the Legislative Analyst’s Office revised earlier estimates and found that the plan will resolve the state’s projected deficit.

“The enacted budget addresses the entire $27 billion budget problem such that no further solutions are required to balance the 2023-24 budget at this time,” Ann Hollingshead, principal fiscal and policy analyst for the Legislative Analyst’s Office and author of the report, told The Epoch Times by email Aug. 21.