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Our annual Fiscal Outlook publication gives our office’s independent assessment of the California state budget condition for the upcoming fiscal year and over the longer term. In this report, we anticipate the state will have a $25 billion budget problem to solve in the upcoming fiscal year and operating deficits declining from $17 billion to $8 billion over the multiyear period. The goal of this report is to help the Legislature begin crafting the 2023‑24 budget. Our analysis relies on specific assumptions about the future of the state economy, its revenues, and its expenditures. Consequently, our estimates are not definitive, but rather reflect our best guidance to the Legislature based on our professional assessments as of November 2022. ....
For many americans and extend a pause on payments to january, that according to three people familiar with the plan. biden, as you know, has faced pressure from liberals to provide much broader relief to hard-hit borrowers and also faced a bit of pressure from moderates and republicans who question the fairness of any widespread forgiveness which would, they argue, force blue collar workers and those americans who didn t have the chance to go to college, didn t make the choice to go to college, to pick up the tab for, let s say a bunch of philosophy majors from boden college. we estimate according to penn warden that forgiving federal college student loan debt will cost between 300 billion and nearly a trillion dollars, 980 billion over the ten year budget window depending on program details. the debt in the top 60% of the income distribution meaning a lot of folks who make a lot of money will be impacted. ....
What that wall street journal piece from editorial board. the headline says about that deficit reduction, even cbo says all the savings or five years out. sure they are. that s what they say. on wednesday the congressional budget office said the first four years through 2,026, it will increase the deficit by $22.2 billion. over ten years it would reduce the deficit by nearly $101.5 billion. those savings in the out years as congress likes to call the far end of the budget window, are almost certainly fictitious. richard. listen. i think we have to wait to see what happens. there s one part of this bill i disagree with jason where it goes directly the pockets of the american people and that has everything to do with decreasing the price of prescription drugs for seniors. as an issue that both democrats and republicans have debated for weeks, months, years on end, and finally in this bill you ll cap the price that seniors are paying for their insulin. some of the seniors are in my ....
We ve got a whole bunch of other sound bites from a whole bunch of other people who were on a bunch of the other sunday shows but we ve got like a minute left so let me just play senator graham on with chris wlals on fox news, what he had to say about whether it s hypocrisy, what is this about, tax cuts versus build back better. just watch. what chris psaki is saying and other democrats are saying is when president trump and you what s that got to do with anything. let me just finish, passed the 2017 trump tax cut, that wasn t a lie. no, what happens is you can t go beyond ten years in terms of the budget window. we voted knowing that cutting taxes we believed was good. joe manchin if you were watching, you were right, joe. you got this right. it is a lie. it s 4.9 trillion not 1.75 ....
I don t taxpayer. i don t like spending more money than we did in world war ii, and that s what we re doing right now. this bill, build back better, is $a 5 trillion. it s not 1.75. it will add $3 trillion to the deficit. when they tell you the bill is paid for, they re lying. when nancy pelosi brought it to the house with a cbo score of 1.75, it was a lie. when she said it was 300 billion to the deficit chris: sir, respectfully, what jen psaki and a lot of democrats are saying is that when president trump and you what s that got to do with anything? chris: senator, half the 2017 trump tax cut, that was a lie. it wasn t paid for. no. what happens is you can t go beyond ten years in terms of the budget window. we voted knowing that cutting taxes, we believed, would be good. i never said that cutting taxes i voted for cutting taxes. i m against expanding the government. they re telling you it doesn t cost anything, chris. well, the cbo says it cost $3 ....