California Admits to Financial Collapse
AMERICAN REPUBLIC NEWS
California freezes spending as state faces $68 billion deficit
ARN- As predicted by the New California State movement the state of California has financially collapsed. The predictions from the New California State movement go as far back as 2016 when the movement started to organize California Counties into a new state called New California.
Chriss W. Street: CEO New California State wrote in a December 10, 2023 article for American Republic News:
“The non-partisan California Legislative Analyst Office just acknowledged the State of California business model has collapsed. After projecting $14 billion in deficits for the next two years in May, the LAO now projects the State of California faces $100 billion deficit over the next 18 months and $187 billion over the next four and a half years.
The financial press is calling the grim alert a shocking surprise, but the New California
State movement that seeks to split the state in half has been issuing similar estimates
for several years. The warning signs of an existential crisis has been brewing include
California unable to issue a timely audited financial statement since 2018, over 1
million residents leaving the state, and collecting lower taxes after raising tax rates”.
History Repeating
New California derived its name from the original name used by Spanish settlers who called California “Nueva California”.
The year was 1836 the Mexican government gave 51 land grants to its citizens in Nueva California but following massive corruption by the Mexican government, Mexican militant attacks and slave-hunting raids, extreme taxation and genocide the Californios, indigenous people and other early settlers to Nueva California resisted the Mexican government and declared themselves independent from the “Centralized Government of Mexico”.
The Mexicans who wanted a totalitarian government to rule over the people got instead a We the People Movement. Read the 1836 Declaration of Independence of Nueva California.
California’s approved budget for the 2023-2024 fiscal year was $310.8 billion.
By Kenneth Schrupp | The Center Square
(The Center Square) – In the aftermath of a government report projecting a $68 billion deficit for the 2024-2025 fiscal year, the California Department of Finance ordered a spending freeze across all state agencies for the remainder of the ongoing 2023-2024 fiscal year.
“The State of California anticipates significant General Fund budget deficits in fiscal years 2023-24 and 2024-25,” wrote California Department of Finance director Joe Stephenshaw in a statewide memo. “Accordingly, this [budget letter] directs all entities under the Governor’s direct executive authority to take immediate action to reduce current-year General Fund expenditures.”
While there are exemptions for declared emergencies, avoiding significant revenue loss, and achieving significant net cost savings, state agencies are directed to not enter any new contracts for goods and services, buy new IT equipment or vehicles, or travel outside of “time-sensitive or critical need.”
Agency secretaries and cabinet-level directors will also be required to report on all approved exemptions as well as achieved cost-savings on a monthly basis.
Assemblymember Vince Fong, R–Bakersfield, who serves as vice chair of Assembly’s budget committee, noted that the state is unable to continue on its current fiscal path any longer.
“I have said for years, a slowing California economy coupled with unsustainable spending is a recipe for fiscal disaster,” Fong said in a public statement. “No more gimmicks; we must take action now to get our fiscal house in order.”
California’s approved budget for the 2023-2024 fiscal year was $310.8 billion. The state last adopted a spending freeze at the beginning of the COVID-19 pandemic in early 2020 when state revenues rapidly declined.
On January 15, 2018 the Nueva California legacy of seeking independence and liberty carried on when New California State Declared Independence from California to become the 51st state in the Union.
