California Gov. Gavin Newsom (D)’s projected budget deficit of $22.5 billion may have been too low by $7 billion, according to a report last week by the nonpartisan Legislative Analyst’s Office (LAO).
As Fox News notes, Newsom told Californians last month to expect a $22.5 billion deficit in the coming fiscal year — after a surplus of $100 billion, driven in part by federal grants for coronavirus relief spending.
