James Cirrone:

‘The problem is California is going broke,’ he wrote on X. ‘California will begin raising taxes and cutting subsidies to the poor, to prisons, environmental problems, and teachers unions. That means crime will spread as police will be cut.’

He believes even Americans who don’t live in the Golden State should care about its prospects because it’s a bell weather for the rest of the country.

‘Since California is a Bell Weather state and is going broke, which states will follow?’ he asked. 

So, is California actually going broke?