California is facing a major budget crisis due to a “severe revenue decline,” and a record $68 billion budget deficit, likely forcing Democrats running the state to cut spending as the mass exodus of people and businesses moving to Republican-run states continues.
According to California’s non-partisan Legislative Analyst’s Office (LAO) report released Thursday, the state’s budget deficit has grown exponentially in just a few months’ time, up more than $54 billion from just $14.3 billion in June.
