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2024 year in review: How did California pay for everything?

The article from MSN discusses how California managed its finances in 2024 amidst various economic challenges. Despite facing a projected $68 billion budget deficit, the state employed several strategies to balance its books. Key measures included tapping into reserve funds, implementing spending cuts, and shifting funds between different budget categories. Governor Gavin Newsom and state legislators focused on protecting essential services like education, health care, and social programs while also addressing the state's ongoing issues like homelessness and climate change. The state also benefited from federal aid, which helped mitigate some of the financial strain. Additionally, California saw an increase in tax revenues from high-income earners and corporations, although this was offset by economic slowdowns in other sectors. The article highlights the state's resilience in financial management, showcasing a blend of fiscal conservatism and progressive policy-making to navigate through economic uncertainties.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/politics/government/2024-year-in-review-how-did-california-pay-for-everything/ar-AA1wwlHT ]