California’s Budget Deficit is $45 Billion. What's Newsom's Plan to Fix It?

Gov. Gavin Newsom last week proposed a series of deep cuts to close the state’s $45 billion budget deficit. The proposals, which include no new taxes, include a nearly 8% cut to state operations and the elimination of 10,000 unfilled jobs and will affect some education, public health and affordable housing programs. The governor’s office says that the proposal “maintains service levels for key housing, food, health care, and other assistance programs.” We look at the Governor’s May revise and the fiscal health of our state.