Accurately describing the state financial situation depends largely on a person’s definitions of “balanced” and “deficit.” Gov. Gavin Newsom and legislative leaders describe the 2026-27 budget they ...

Gov. Gavin Newsom addresses the media during a press conference unveiling his revised 2026-27 budget proposal at the Capitol Annex Swing Space in Sacramento, May 14, 2026. (CalMatters/Miguel Gutierrez ...

Gov. Gavin Newsom addresses the media during a press conference unveiling his revised 2026-27 budget proposal at the Capitol Annex Swing Space in Sacramento on May 14, 2026. Photo by Miguel Gutierrez ...

This story was originally published by CalMatters. Sign up for their newsletters. Accurately describing the state financial situation depends largely on a person’s definitions of “balanced” and ...