California has budget surplus after Congress bailed them out – IOTW Report

California has budget surplus after Congress bailed them out

TheCenterSquare:

California collected loads of tax revenue from high earners, which is bringing the state to an unexpected $75.7 billion state budget surplus. On top of the surplus, California state government is getting $26 billion from President Joe Biden’s American Rescue Plan Act – a federal coronavirus aid bill signed into law in March.

Yes, the Golden State is getting rich from federal taxpayers across the country. Consider this:

When U.S. House Democrats, led by House Speaker Nancy Pelosi, changed the state bailout allocation from population to unemployment rate in the Rescue Plan, California picked up an additional $6.6 billion. Big losers were states like Georgia (-$1.5 million) and West Virginia (-$900 million) – their federal tax dollars were sent to California (and New York, plus $6 billion!).

So, what is California Gov. Gavin Newsom going to do with the largess? Dole out $8.1 billion to residents in the form of “stimulus checks.” more

22 Comments on California has budget surplus after Congress bailed them out

  1. California should probably spend most of this money shoring up their woefully underfunded pension plans, but they won’t. Giving Sacramento progressives money and expecting them to spend it wisely is like delivering a kilo of uncut heroin to a junkie and expecting them to use it to wean themselves off the drug.

    As Gitmo observed, there are votes to buy and contracts to award to friendly leftists. This “surplus” is more likely to make things worse in the long run than fix anything.

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  2. California is giving money away again, let’s move to California. Oh wait, can’t practice your religion, carry a gun, raise your own children and the health dept is in charge of everybody..

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  3. He is going to move illegal aliens from the $80 dollar a night hotels to a four star $500 a night spa hotel.

    Homeless veterans living on the street will get a MacDonald’s coupon book.

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  4. So I’m in Ohio and have to pay for this shit!?!?!?!?!?!?
    This is how these Communists intend to destroy the country from within: Cloward-Piven on steroids! Think about it – these A-Holes have run out of California’s OPM! Now they’ve moved on to robbing the American Taxpayer! This sets up a dangerous domino effect with other blue states following suit. With Jackass Joe throwing our money away like a drunken sailor and these ass-holes frittering away our tax dollars, Venezuela is right around the corner!!

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  5. Thanks for the $600.00 Covid check everybody. LOL. Newsom passing out your money to California residents as I type, in an effort to save his job. Aunt Nancy really came through for him. You can’t make this shit up.

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  6. “California is giving money away again, let’s move to California. Oh wait, can’t practice your religion, carry a gun, raise your own children and the health dept is in charge of everybody..”

    What planet are you from. I live in California and currently have a gun strapped to my hip. Do you? California sucks but come on.

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  7. Stimulus checks? Must be nice, I’ve never ever got a stimulus check, don’t meet the income threshold.

    In any other instance, having a surplus would be a good thing but not here. That money will be spent on giving deadbeat teachers more money to be shit at their jobs, medical care and education for illegals, more farm subsidies to incentive farmers plowing up their land for solar panels, and more unemployment insurance to keep people at home and not working real jobs.

    And for those bitching about federal dollars come here, I prefer not to give money to Minneapolis, Seattle, Chicago and St. Louis to rebuild their burnt out cities, giving aid to countries that hate us, or to dopey socialist organizations like BLM, the 1619 project, or any federal program that rewards blacks only.

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  8. “Stimulus checks? Must be nice, I’ve never ever got a stimulus check, don’t meet the income threshold.”

    I didn’t say I was getting one. Same problem. Although those were the Feds. I haven’t heard what Newsom’s criteria is yet. He’s trying to keep his job so he maybe sending money to everyone.

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  9. Here is the income criteria;

    “About 11 million low- and middle-income Californians would receive payments under Newsom’s so-called Golden State Stimulus plan. Households with annual income of between $30,000 and $75,000 would get $600 payments, while families with at least one child would receive an extra $500, or a total of $1,100. Newsom said during a press conference in Oakland on Monday that two-thirds of Californians would receive a stimulus payment under his proposal.”

    https://www.cbsnews.com/news/stimulus-check-california-600-dollars/

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  10. rich

    66% of Californian earn less than $75K annually? That doesn’t sound right. Median household income for California was $84K in 2019. It’s only gone up. Once again our idiot Gov is full of shit.

  11. The US Census Bureau has the median income @ $75,235;

    https://www.census.gov/quickfacts/CA

    Sure, a lot of folks like myself increased their wealth but California has a huge poverty/unemployment rate compared to the rest of the country, no doubt tied to caustic destructive progressive policies.

    I don’t know if these figures reflect all the illegals here that lower the collective income rate, rich or well off illegals stay where they are.

    And TBH, I really don’t trust that $76 billion surplus figure anyway, inflating numbers to make you look good and stave off a recall is duplicity 101.

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  12. Now, the first order of business is to give their “lawmakers” a huge raise, then public servants and teachers unions…then they’ll be broke again!

    Believe me, I know what I’m talking about!!!

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