A new report from California’s Legislative Analyst’s Office (LAO) paints a bleak picture of the state’s economy, describing it as “stagnant” and “fragile,” with job losses, falling consumer spending, and unsustainable reliance on stock market gains driving serious fiscal concerns. The warning is backed by multiple indicators showing the state slipping toward recession territory.
The Eighth U.S. Circuit Court of Appeals delivered a decisive ruling on Tuesday against former President Joe Biden's $500 million student loan forgiveness initiative.
