Gavin Newsom proposes $350B California budget — kicks the can on debt

Source: New York Post

California Gov. Gavin Newsom unveiled a record-high $350 billion state budget Friday that makes “historic” investments in areas like education — but kicks the can on paying down federal debt, foisting costs onto struggling employers. Newsom’s budget incorporates a $43 billion windfall tied to the stock market that he touted in his State of the State speech Thursday, bringing his office’s estimated deficit down to $3 billion — the state’s fourth deficit in a row.