• Privacy Policy
  • About Us
  • Contact Us
Climate Change Dispatch
  • Home
  • Videos
  • Who We Are
  • Facts Vs. Fearmongering
    • Real science vs Junk Science
      • 1100-plus Peer-Reviewed Studies
      • 97% – Myth of the Climate Change Consensus
      • Michael Crichton: Aliens Cause Global Warming
      • Climate change and its causes
      • Climate Science Primer
      • CO2 is not pollution
      • Deceptive Surface Temperature Records
      • Editorial: Great Global Warming Hoax
      • Rules for Climate Radicals: Part 1
      • Rules for Climate Radicals: Part 2
      • Rules for Climate Radicals: Part 3
      • Why CO2 Is A Minor Player In Global Climate
      • Why Politicized Science Is So Dangerous
    • Facts Not Fear
      • A Simple Question For Climate Alarmists
      • Climate Change – The Facts
      • Climate Change Fears Are Empirically Baseless
      • Global Warming 101
      • Global Warming Q&A
      • Understanding The Medieval Warm Period
      • Ocean Cycles and Climate
      • Overview of Plate Climatology Theory
      • Precautionary Principle
      • Should We Celebrate Carbon Dioxide?
      • The Skeptics Handbook
      • Weather Versus Climate
      • Why I’m a GW skeptic
      • Winning the climate debate with facts
      • Why Aliens Cause Global Warming
    • Greenhouse FAQs
      • CO2, Plants, & Industry
      • How much have temps changed?
      • How much have temps changed?
      • How much have temps changed?
      • Is global warming real?
      • Measuring temperature
      • Swimming in CO2?
      • Scientists urge caution?
      • Today’s warming trend
      • Variations in temperature
    • Gore’s Greatest Goofs
      • Deconstructing the Truth
      • Fact-Checking Al Gore’s Latest Predictions
      • How Gore Created The Global Warming Hoax
    • Inside Real Climate
      • Closer look at the 97% Consensus
      • GW’s Amazing Story
      • IPCC gets failing grade
      • Real Climate Exposed!
      • Truth about Real Climate
      • We’ve Been Conned
      • What is there a 97% consensus about?
    • Behind the IPCC
      • 1,000 Scientists Dissent
      • Climategate: Caught Green-Handed!
      • Climategate Inquiries
      • Climategate Inquiries 2
      • NIPCC Report Now Available
      • Understanding the Climategate Inquiries
  • Submissions
  • Contact Us
No Result
View All Result
  • Home
  • Videos
  • Who We Are
  • Facts Vs. Fearmongering
    • Real science vs Junk Science
      • 1100-plus Peer-Reviewed Studies
      • 97% – Myth of the Climate Change Consensus
      • Michael Crichton: Aliens Cause Global Warming
      • Climate change and its causes
      • Climate Science Primer
      • CO2 is not pollution
      • Deceptive Surface Temperature Records
      • Editorial: Great Global Warming Hoax
      • Rules for Climate Radicals: Part 1
      • Rules for Climate Radicals: Part 2
      • Rules for Climate Radicals: Part 3
      • Why CO2 Is A Minor Player In Global Climate
      • Why Politicized Science Is So Dangerous
    • Facts Not Fear
      • A Simple Question For Climate Alarmists
      • Climate Change – The Facts
      • Climate Change Fears Are Empirically Baseless
      • Global Warming 101
      • Global Warming Q&A
      • Understanding The Medieval Warm Period
      • Ocean Cycles and Climate
      • Overview of Plate Climatology Theory
      • Precautionary Principle
      • Should We Celebrate Carbon Dioxide?
      • The Skeptics Handbook
      • Weather Versus Climate
      • Why I’m a GW skeptic
      • Winning the climate debate with facts
      • Why Aliens Cause Global Warming
    • Greenhouse FAQs
      • CO2, Plants, & Industry
      • How much have temps changed?
      • How much have temps changed?
      • How much have temps changed?
      • Is global warming real?
      • Measuring temperature
      • Swimming in CO2?
      • Scientists urge caution?
      • Today’s warming trend
      • Variations in temperature
    • Gore’s Greatest Goofs
      • Deconstructing the Truth
      • Fact-Checking Al Gore’s Latest Predictions
      • How Gore Created The Global Warming Hoax
    • Inside Real Climate
      • Closer look at the 97% Consensus
      • GW’s Amazing Story
      • IPCC gets failing grade
      • Real Climate Exposed!
      • Truth about Real Climate
      • We’ve Been Conned
      • What is there a 97% consensus about?
    • Behind the IPCC
      • 1,000 Scientists Dissent
      • Climategate: Caught Green-Handed!
      • Climategate Inquiries
      • Climategate Inquiries 2
      • NIPCC Report Now Available
      • Understanding the Climategate Inquiries
  • Submissions
  • Contact Us
No Result
View All Result
Climate Change Dispatch
No Result
View All Result

Newsom Now Blaming Climate Change For California’s Budget Deficit

by Joel B. Pollak
May 16, 2024, 8:13 AM
in Extreme Weather, News
Reading Time: 3 mins read
A A
1
Share on FacebookShare on XwitterShare on Linkedin

newsom driving electric car

California Gov. Gavin Newsom (D) has turned to climate change to explain how the state went from a $100 billion surplus two years ago to a $28 billion deficit, which would have been even higher before drastic actions last month. [emphasis, links added]

As CalMatters noted, deficit estimates ranged from $38 billion to $73 billion:

That prompted Newsom and the Legislature to take “early action” last month to reduce the deficit by more than $17 billion ahead of the regular budget process. Their plan included some program cuts, but mostly relied on new revenue, internal borrowing and funding delays and shifts for savings, earning criticism from Republican lawmakers for being “gimmicky” and “balanced on hopes and prayers.”

…

Why does California have such a financial problem? The reasons go back two years. A downturn in the stock market in 2022 hit capital gains, while high inflation pinched the housing market and the tech industry pulled back on initial public offerings as investments dropped. Those blows have continued as wealthy taxpayers carried forward their losses.

But the drops in revenue were not fully reflected in the spending plan that Newsom and legislators adopted last summer. Severe winter storms prompted the federal government to delay the income tax filing deadline for most Californians from April until November, and the state followed suit, giving an incomplete picture during the budget process. The state committed to funding programs that it subsequently realized it cannot afford.

Newsom noted the severe storms in answering a question from a reporter at a press conference on Friday:

Q: Can we explain to Californians how we move from a hundred billion dollar surppus to such a significant deficit in just a matter of a few years?

Newsom: Well it’s — yeah. Let me can explain it $349 billion of unprecedented capital gains — 11.6%, when traditional capital gains is around 5.18%, on average. It’s almost double. So you have massive volatility. You have requirements under Prop 2; the Gann [see here]; you have requirements under Prop 98 which require that set-aside we use 93% of our surplus, which is — I want to be careful — either on the higher end or without precedent for one-time purposes.

So we anticipated — because we didn’t want that surplus to go to ongoing commitments — we anticipated that shortfall What we didn’t anticipate is these rain bombs in December, January, February, and March, these atmospheric rivers that led to a federal declaration that led to FEMA and the IRS moving in a direction where we couldn’t collect our taxes until, I believe November 16th, as opposed to April 15th.

And so therein lied this blackout period that beguiled all of us the LAO, finance, economists, experts — and interestingly, I mean there been at the White House recently, [it] had an impact in terms of the IRS collections as well with their estimates because there were other states that had similar delays in their taxes related to weather events.

If there was any indication that climate change has impacts well beyond those that are often promoted, I would consider our financial delays as just another example of why we need to tackle them, another reason I’m looking forward to conversations that we’ll be having next week in this space.

Newsom will be traveling to Rome next week to deliver a speech at the Vatican on climate change. International jet travel is considered a significant contributor to carbon emissions, but Newsom is traveling abroad regardless.

Scientists have not established a link between climate change and the storms the state experienced last winter.

Notably, Newsom was out of the country during the worst of the snowstorms, enjoying a vacation in Mexico.

Read more at Breitbart

  • Truth
  • Twitter
  • Facebook
  • LinkedIn
  • Gettr
  • Threads
  • gab-logo Gab
  • Mastodon
  • Buffer
  • Telegram
  • Email
  • Copy Link
  • Share Using More Networks…
Share via
  • Facebook
  • Like
  • Twitter
  • Pinterest
  • LinkedIn
  • Digg
  • Tumblr
  • VKontakte
  • Print
  • Email
  • Reddit
  • Buffer
  • Love This
  • Weibo
  • Pocket
  • Xing
  • Odnoklassniki
  • WhatsApp
  • Meneame
  • Blogger
  • Amazon
  • Yahoo Mail
  • Gmail
  • AOL
  • Newsvine
  • HackerNews
  • Evernote
  • MySpace
  • Mail.ru
  • Viadeo
  • Line
  • Flipboard
  • Comments
  • SMS
  • Viber
  • Telegram
  • Subscribe
  • Facebook Messenger
  • Kakao
  • LiveJournal
  • Yammer
  • Edgar
  • Fintel
  • Mix
  • Instapaper
  • Copy Link
  • Truth
  • gab-logo Gab
  • Gettr
  • Baidu
  • Mastodon
  • Threads
  • Bluesky

Join our list

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.

We respect your privacy and take protecting it seriously

Related Posts

Energy

Democrats’ Massive Climate Agenda Loses Support With Most Americans

Jun 13, 2025
Electric Vehicles (EVs)

Four GOP Senators Call For Fewer Cuts To Biden’s Green New Scam

Jun 13, 2025
Electric Vehicles (EVs)

11 States Led By California AG Sue Trump To Save California’s EV Mandate

Jun 13, 2025

Comments 1

  1. SPURWING PLOVER says:
    1 year ago

    Governor Nuisance is becoming even more bigger idiot then Biden their the Tweedle Dumb and Tweedle Stupid of the Democrat Party

Stay Connected On Social Media

gab-logo

Donate Today

Beating back the alarmist narrative takes time and money. Please donate today to help!

Recent Posts

  • it's ot easy being greenDemocrats’ Massive Climate Agenda Loses Support With Most Americans
    Jun 13, 2025
    Democrats face growing backlash as many Americans reject Biden’s costly climate agenda and Trump rolls back key policies. […]
  • solar panel workerFour GOP Senators Call For Fewer Cuts To Biden’s Green New Scam
    Jun 13, 2025
    Four GOP senators break ranks, warn against full repeal of green energy subsidies in Biden’s Inflation Reduction Act. […]
  • Driving electric will now be a consumer choice.11 States Led By California AG Sue Trump To Save California’s EV Mandate
    Jun 13, 2025
    California and 10 other states sued Trump over 3 Congressional resolutions blocking the Golden State’s de facto ban on new gas-powered cars. […]
  • Ice Harbor Dam snake riverTrump Revokes Biden’s Snake River Dam Order, Citing Energy And Salmon Recovery
    Jun 13, 2025
    Trump revokes Biden’s executive action on Snake River dams, drawing praise from salmon supporters and criticism from environmentalists. […]
  • President Trump signs resolutions against California's electric vehicle mandates.It’s Official! Trump Nixes California’s Electric Vehicle Mandate
    Jun 12, 2025
    Trump ends Biden’s electric vehicle mandate, restoring consumer choice and rolling back California’s influence on national transportation policy. […]
  • cnn photo essayCNN Blames Climate Change For Man-Made Disasters In Deceptive Photo Essay
    Jun 12, 2025
    CNN uses emotional photos to push a climate narrative, but the real causes are poor policy, bad planning, and human neglect—not climate. […]
  • Ivanpah Solar FarmCalifornia’s Ivanpah Solar Plant Shutting Down Over High Costs, Low Output
    Jun 12, 2025
    California’s $2.2B solar gamble flops as Ivanpah shuts down early, while the Diablo Canyon nuclear plant quietly powers on. […]
  • Sierra Club protestSierra Club, Major Green Groups Cut Jobs As Trump Scraps Climate Programs
    Jun 12, 2025
    Sierra Club and other green groups have cut jobs as Trump kills green energy policies amid a shifting climate activism landscape. […]
  • Lee ZeldinTrump EPA Overturns Biden-Era Rules That Would Close Coal, Gas Plants
    Jun 12, 2025
    Trump’s EPA scraps Biden-era rules targeting coal and gas plants, citing energy costs, grid risks, and regulatory overreach. […]
  • NASA MSU satelliteClimatologist Details How NASA GISS And Climate.gov Drain Taxpayer Dollars
    Jun 11, 2025
    Taxpayer-funded agencies like NASA GISS and NOAA are pushing climate fear to secure funding, blurring the line between science and advocacy. […]

Get Instant Email Notifications

Enter your email address to receive notifications of new posts by email either instantly or daily. Check your Junk folder for any verification emails upon subscribing.

Submit a tip

Please enter your email, so we know you're human.

Books We Like

very convenient warming

exposing great lie

Have a suggestion? Let us know! We swap out books based on your input. We participate in the Amazon Services LLC Associates Program. See here.

  • About
  • Privacy Policy
  • Contact Us

© Portions copyright Climate Change Dispatch

Share via
  • Threads
  • gab-logo Gab
  • Mastodon
  • Buffer
  • Telegram
  • Email
  • Copy Link
  • Share Using More Networks…
No Result
View All Result
  • Home
  • Videos
  • Who We Are
  • Facts Vs. Fearmongering
    • Real science vs Junk Science
      • 1100-plus Peer-Reviewed Studies
      • 97% – Myth of the Climate Change Consensus
      • Michael Crichton: Aliens Cause Global Warming
      • Climate change and its causes
      • Climate Science Primer
      • CO2 is not pollution
      • Deceptive Surface Temperature Records
      • Editorial: Great Global Warming Hoax
      • Rules for Climate Radicals: Part 1
      • Rules for Climate Radicals: Part 2
      • Rules for Climate Radicals: Part 3
      • Why CO2 Is A Minor Player In Global Climate
      • Why Politicized Science Is So Dangerous
    • Facts Not Fear
      • A Simple Question For Climate Alarmists
      • Climate Change – The Facts
      • Climate Change Fears Are Empirically Baseless
      • Global Warming 101
      • Global Warming Q&A
      • Understanding The Medieval Warm Period
      • Ocean Cycles and Climate
      • Overview of Plate Climatology Theory
      • Precautionary Principle
      • Should We Celebrate Carbon Dioxide?
      • The Skeptics Handbook
      • Weather Versus Climate
      • Why I’m a GW skeptic
      • Winning the climate debate with facts
      • Why Aliens Cause Global Warming
    • Greenhouse FAQs
      • CO2, Plants, & Industry
      • How much have temps changed?
      • How much have temps changed?
      • How much have temps changed?
      • Is global warming real?
      • Measuring temperature
      • Swimming in CO2?
      • Scientists urge caution?
      • Today’s warming trend
      • Variations in temperature
    • Gore’s Greatest Goofs
      • Deconstructing the Truth
      • Fact-Checking Al Gore’s Latest Predictions
      • How Gore Created The Global Warming Hoax
    • Inside Real Climate
      • Closer look at the 97% Consensus
      • GW’s Amazing Story
      • IPCC gets failing grade
      • Real Climate Exposed!
      • Truth about Real Climate
      • We’ve Been Conned
      • What is there a 97% consensus about?
    • Behind the IPCC
      • 1,000 Scientists Dissent
      • Climategate: Caught Green-Handed!
      • Climategate Inquiries
      • Climategate Inquiries 2
      • NIPCC Report Now Available
      • Understanding the Climategate Inquiries
  • Submissions
  • Contact Us

© 2025 Climate Change Dispatch