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California Has Largest Unrestricted Net Deficit in US

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California Has Largest Unrestricted Net Deficit in US
California Gov. Gavin Newsom leaves the stage after delivering his budget proposal in Sacramento on Jan. 10, 2023. José Luis Villegas/AP Photo
John Moorlach
Updated:
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Commentary
The California State Controller released the audit of California’s financial statements, performed by the State Auditor for the year ending June 30, 2022, on March 15. The annual comprehensive financial report should have been issued some 15 months sooner.
John Moorlach
John Moorlach
Author
John Moorlach is the director of the California Policy Center's Center for Public Accountability. He has served as a California State Senator and Orange County Supervisor and Treasurer-Tax Collector. In 1994, he predicted the County's bankruptcy and participated in restoring and reforming the sixth most populated county in the nation.