Denise Lite | How the State Is Penalizing Businesses for Its Mismanagement
A message to the voters of Santa Clarita ahead of the June 2 election:
Not long ago, California was sitting on the largest state budget surplus in American history. In May 2022, Gov. Gavin Newsom stood before the cameras and announced a $97.5 billion surplus while declaring that “no other state in American history has ever experienced a surplus as large as this.”
It was a remarkable moment. A $300 billion budget. Nearly $100 billion in extra money. The kind of windfall most governments only dream about.
So here is a fair and reasonable question every working family, small business owner and local employer in our community deserves an answer to: Where did it go?
Today, California is the only state in the entire country still carrying unpaid debt from pandemic-era federal borrowing. As of late 2024, California stands alone among all 50 states in carrying unpaid federal unemployment insurance loan debt from the COVID-19 pandemic, with an outstanding balance hovering around $20-21 billion.
More than 20 states borrowed from the federal government during 2020-2021. All other........
