Governor Newsom Statement on LAO State Budget Outlook

SACRAMENTO – Governor Gavin Newsom today issued the following statement regarding the Legislative Analyst’s Office’s annual state budget outlook:

“This budget assessment points to a broader truth. California is now the fifth-largest economy in the world. Our state is proving what big-hearted, progressive governance can look like – all without breaking the bank. President Trump talks a lot about America’s economic growth under his presidency, but when you look behind the numbers, you see that it’s California’s growth that has provided the economic rocket fuel for the nation.

“As Washington soaks Americans with a trillion dollars in debt to pay for tax cuts that benefit the wealthy and destroys the social safety net, our state is now doing more than ever before to provide opportunity for all California families, especially those who are not equally sharing in our nation’s prosperity. We are taking important steps so that growth is broadly shared, doing it all while saving record amounts for a rainy day.

“As our state and nation face uncertain economic headwinds, the federal government would be wise to look to California as a model for how to get its fiscal house in order.”