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    Editorial: California’s budget gets back to reality

    by Los Angeles Times Editorial Board, Los Angeles Times Jan 13, 2023 2 minutes
    Gavin Newsom gives his inaugural address after taking the oath of office, sworn in by Chief Justice Patricia Guerrero, at the Capitol Mall on Friday, Jan. 6, 2023, in Sacramento, California.

    It was fun while it lasted. But 2023 will be the year that reality comes back to the California budget.

    For the last several years, the state has enjoyed record budget surpluses thanks to a soaring stock market and investment earnings from the state’s wealthiest taxpayers. Just last year the state

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