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Governor Gavin Newsom released his revised budget last Friday, revealing a larger revenue shortfall, higher estimated safety net spending, but even so not a fiscal emergency.
The combined revenue shortfall plus higher expenditures resulted in a $31.5 billion gap from a fully funded workload budget. Given the massive state budget surpluses enjoyed by elected leaders and state fiscal officials over the past couple years, few were surprised that a shortfall even of this magnitude could not be bridged…