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Gavin Newsom’s last budget still would leave California’s finances wobbly

A "wall of debt," a raid on reserves and AI stock gains mean California's budget temporarily balances this year and next, but structural def

Cali Reporter staff · May 19, 2026
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Gavin Newsom’s last budget still would leave California’s finances wobbly
Gavin Newsom’s last budget still would leave California’s finances wobbly

A "wall of debt," a raid on reserves and AI stock gains mean California's budget temporarily balances this year and next, but structural deficits remain.

Original reporting: CalMatters.

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