Will the bubble burst in California?
Some say that California is a lost cause. Home of the largest group of undocumented folks who and yes, vote to keep the welfare dollars coming in. Even though they have a 12-billion-dollar deficit. Where else can you see a state that spends 22 billion on the undocumented?
How does this happen? They will be bringing in 6 billion more dollars for this year, but the deficit is projected to grow to 35 billion. Some examples.
Newsom’s biggest spending increases have come in K-12 education, healthcare, and housing. All told, spending has grown by over two-thirds in these categories since Newsom came to office. But what is most alarming is how little he has accomplished in his big spending spree. Despite pouring billions of dollars into higher government union teachers’ salaries, California K-12 test scores have not improved and, in fact, have declined compared to other states, particularly red states, such as Florida, Mississippi, and Texas.
Newsom’s billions of dollars spent on housing have done nothing to make housing more affordable. California still has the most expensive housing in the nation, housing starts are still far below other states, and California still has the nation’s highest homeless population.
