[REGIONAL NEWS] California boom is ending

“You’re already seeing the plane land in terms of the slowdown,” Newsom told reporters.

Gavin Newsom warns as 2020 budget writing begins

By Sophia Bollag | The Sacramento Bee

California’s longest-ever period of economic growth is slowing, Gov. Gavin Newsom said Thursday, warning that next year’s budget may not be as flush as this year’s.

“You’re already seeing the plane land in terms of the slowdown,” Newsom told reporters. “I think it’s going to reflect in a more sober look at next year’s budget.”

His 2020 budget blueprint is due in January.

This year, he rolled out his budget plans in an exuberant press conference where he pledged to spend more on many of his top priorities. Much of that came to fruition in the final $215 billion budget he signed in June.

This year’s budget built up California’s reserves to more than $19 billion in anticipation of the next recession. Record surpluses allowed the governor to boost health care, housing and education spending and grant asks from many lawmakers, such as making the first two years of community college tuition-free for California students

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