The state that wants to set aside tens of billions of dollars for slavery reparations can’t get its default budget under control. The prospect of a budget shortfall in the Golden State is certainly nothing new. Despite levying some of the highest taxes in the nation and being home to some of the most productive, profit-generating companies in the world, the state legislature always seems to find creative new ways to burn through all of that cash. Only last month, Governor Gavin Newsom was warning residents that there could be a budget gap of as much as $38 billion. But when the final figures were released last week, the actual number was an eye-watering $73 billion. And that’s without spending a penny on reparations. The Wall Street Journal openly mocked the economic mismanagement on display. (Subscription required)
The California Legislative Analyst’s Office (LAO) on Tuesday…
