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© 2020 AFPSan Francisco exodus as tech giants lean in to remote work in COVID-19 era
By Julie JAMMOT SAN FRANCISCO©2024 GPlusMedia Inc.
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Desert Tortoise
So much incorrect information about California! Entering the Covid-19 crisis California had built up a roughly $20 billion rainy day fund by virtue of running annual budget surpluses since 2008. No other state has been able to amass that kind of money for an emergency. Now the emergency is here and some of that $20 billion is being used to fill the hole in the state budget left by the huge reduction in tax revenues caused by pandemic driven business closures. Absent any changes in current spending there would have been a two year deficit of $54 billion. However the Legislature and Governor worked together to make the necessary budget reductions. The FY21 budget is balanced. There is no deficit. It does rely on receipt of a $12 billion Covid-19 relief payment. If that is not forthcoming the Governor and legislative leaders have already committed to cutting the budget further to keep it balanced.
kaimycahl
California is responsible for its own fate, the state is run by a bunch of socialist with capitalist spending habits. When the tough gets going they just tax the people. The went from a 6.5 billion surplus to 57 billion in debt. Many people are leaving the state heading to Texas, Nevada and Arizona. Its a cess pool!
Speed
SF has become waaaaaaaaaaaay too expensive. They need to bring the cost of living down there so "regular folk" can once again live there without being fleeced. This just might be the ticket.