California’s budget whiplash showed the pitfalls of forecasting revenue

by DAN WALTERS at Seventeen months ago, while unveiling a much-revised 2022-23 state budget, Gov. Gavin Newsom bragged of having a $97.5 billion surplus to expand health care, social equity and educational programs. “No other state in American history has ever experienced a surplus as large as this,” Newsom said as he unveiled a $300-plus […]