Californians love to tax everyone except themselves, hence the state’s budget is a wildly volatile creature that depends on the fortunes of a small number of people and a moderate recession will put us in $60B of deficits.https://twitter.com/dancalmatters/status/996741092706930693 …
yes and it will turn into a $50B multi-year deficit once we enter a moderate recession because of the way the state's finances are structured.