California Projects $54.3 Billion Budget Deficit Due To COVID-19

California faces a projected $54.3 billion budget deficit due to the COVID-19 pandemic, with a $41.2 billion drop in revenue and an 18% unemployment rate. The legislative analysis predicts budget deficits until 2024, averaging $30 billion annually. The state is under a stay-at-home order, leading to business closures and over 4 million unemployment claims. Governor Newsom emphasizes the need for federal support to address revenue shortfalls. An updated spending plan is expected, potentially including significant cuts to public education.

What is the projected budget deficit for California through fiscal year 2021 due to the pandemic?

• $54.3 billion

• $41.2 billion

• $30 billion

• $18 billion

What percentage is California's unemployment rate expected to reach in 2020?

• 20%

• 18%

• 15%

• 10%

According to the legislative Analysts Office, until when is California's budget gap expected to last?

• 2022

• 2023

• 2024

• 2025

What has the mandatory stay-at-home order in California led to?

• Increased tourism

• More public gatherings

• Business closures and unemployment

• Higher state revenue

What does Newsom emphasize is needed to help California through the crisis?

• Federal support

• Local government aid

• More state taxes

• Increased exports