Daily Business Report: Wednesday, December 24
San Diego County Schools Must Prepare for Fewer Kids
By Jakob McWhinney | Voice of San Diego
The United States is the land of opportunity. Or at least it used to be.
Income inequality has exploded. Americans are more debt-ridden than ever before. Young and working-class people are less likely to be able to afford a house – or even retire. It’s all fueled the pervasive fear that the gears of opportunity may have ground to a halt. That’s why nearly three in four American parents think their kids will be worse off financially than their parents.
For many, it adds up to a harsh truth – Americans must acclimate to a future where they will have less than they’d hoped for, and less than their parents and grandparents had.
Newsom’s $18 billion budget gap has roots in pandemic aid ending
By Dan Walters | CalMatters
When Gov. Gavin Newsom unveils his first draft of the state’s 2026-27 budget next month, he’ll reveal whether he intends to deal squarely with its chronic, multi-billion-dollar deficit or punt the shortfall to his successor.
Legislative Analyst Gabe Petek, the Legislature’s independent fiscal advisor, estimates the state faces an $18 billion gap between projected spending and likely revenues next year and, if left unaddressed, the deficit will grow to $35 billion a year.
Meanwhile, Petek says, the state has rung up $21.6 billion in off-the-books debt to cover deficits in recent fiscal years.
AG Bonta Promotes California’s ‘Migrant Community’ Over California Citizens
By Katy Grimes | California Globe
California Attorney General Rob Bonta, a Democrat, posted to X his support for the “migrant community” in California over the state’s legal immigrants and citizens. “Migrant” is the new word for “illegal” alien.
“Migrant communities are vital to California’s vibrant culture and world leading economy. In CA, we’ll continue to protect our migrant communities this #InternationalMigrantsDay and every day.”
Because as Democrats love to say, “Diversity is our strength.” Yet nothing is further from the truth. British historian Arnold Toynbee warned, “Civilizations die from suicide, not by murder.”
