Well, it doesn’t look as though California’s big bet on a federal stimulus package that would allow the state to reverse $11 billion in budget cuts is likely to pay off.
In a Tuesday tweet that sent shock waves through Wall Street, President Donald Trump announced he was ending negotiations on a coronavirus relief package until after the November election, accusing Speaker Nancy Pelosi of trying to “bailout (sic) poorly run, high crime, Democrat States.” The move has massive implications for California, which planned to rescind cuts to state employee salaries, courts and the UC and CSU systems if the feds supplied aid by Oct. 15. (Late Tuesday night, Trump expressed support for more stimulus checks and small-business aid.)
It also raises the question of whether Gov. Gavin Newsom will change his mind about levying new taxes on millionaires and big businesses as other revenue sources dry up and the state racks up billions of dollars in delayed payments owed to K-12 schools and community colleges. The governor’s press office did not respond to a request for comment Tuesday.
California is not the Swamp, no one is sure if California is even a state any more.
Nancy missed a central point, she needs to pay off the small states. Then California insists the ticket include Kamala. California's political capital in the Swamp has run out. I doubt even Biden can generate the bailout Newsom wants.
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