The Golden State is awash in cash
How its leaders plan to use the money says a lot about its politics
RECENTLY CALIFORNIA has been running a lottery to encourage vaccinations against covid-19. Those who have received their jabs can enter to win prizes, including holidays, gift cards and ten grand-prize cheques of $1.5m each. California has also recently won a windfall of its own. Instead of an expected $54bn budget deficit because of the covid-19-induced recession, a roaring stockmarket combined with a federal stimulus has produced a surplus of more than $100bn.
This article appeared in the United States section of the print edition under the headline “Gavin Newsom’s wild ride”
United States June 19th 2021
- After a quick start, Joe Biden’s legislative agenda has hit a wall
- The death of a totemic pipeline has been greatly exaggerated
- America’s largest Protestant denomination holds off an insurgency
- Joe Biden appoints Lina Khan to head the Federal Trade Commission
- The Golden State is awash in cash
- America debates how much power state governors should have
- Terry McAuliffe and the battle for Virginia
From the June 19th 2021 edition
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