There’s an old adage that one must first acknowledge a problem exists before it can be addressed. It bears repeating because of a huge disagreement over the size of California’s state budget deficit. In December, the Legislature’s independent budget analyst said the state faces a $68 billion deficit, mostly due to revenue shortfalls in the 2022-23 and 2023-24 budgets, and projections into 2024-25. On Wednesday, Gov. Gavin Newsom introduced a 2024-25 budget that assumes a $37.9 billion deficit, while chiding news media for repeating analyst Gabe Petek’s projection, saying they are undermining confidence in the state’s economic resilience. Were Petek’s figure valid, the state would have to mak
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