https://www.siliconvalley.com/2023/12/07/golden-state-no-more-california-budget-deficit-balloons-to-68-billion/

California faces a $68 billion deficit in its budget, largely as a result of a severe revenue decline in the current 2022‑23 fiscal year, the state’s Legislative Analyst’s Office reported Thursday.

“The state faces a serious budget deficit,” the analyst’s office said. “We estimate the Legislature will need to solve a budget problem of $68 billion in the upcoming budget process.”