CALMATTERS: California’s budget whiplash shows the pitfalls of forecasting revenue | Columns

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 CALMATTERS: California's budget whiplash shows the pitfalls of forecasting revenue |  Columns

Seventeen months ago, while unveiling a revised 2022-23 state budget, Gov. Gavin Newsom boasts of having a $97.5 billion surplus to expand health care, social equity and education programs.

“No other state in American history has experienced a surplus as large as this,” Newsom said as he unveiled a $300-plus billion budget that the Legislature eagerly adopted with some tweaks.

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