Los Angeles CA
11-18-2022 1:09am

State Faces Operating Deficits Over Multiyear 2023-2027

The 2023‑24 Budget California’s Fiscal Outlook outlines scenarios for the projected deficit of the State of California budget:

  • Reductions in Temporary Spending.
  • Assume the Legislature enacts no new policies over the period. 
  • General Fund spending would grow from $227 billion in 2023‑24 to $246 billion in 2026‑27—an increase of about $20 billion or an average annual growth of 2.9 percent.
  • Faster growth in ongoing programs would total nearly $35 billion over the period 2023-2027
    • education
    • employee compensation
    • health and human services programs, would total nearly $35 billion over the period
  • This growth is offset by about $15 billion in lower spending in other areas
    • natural resources
    • transportation
    • housing.

    The 2023-24 Budget: California's Fiscal Outlook

    State Faces Operating Deficits Over the Multiyear Period. The $25 billion budget problem the state faces in 2023‑24, the state faces annual operating deficits which decline from $17 billion to $8 billion by 2026‑27.


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