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EconomyEconomy
๐ SVB Wrecked Cali
Californiaโs economy has been in a slowdown for the past year or so. Tax collections from high earners are plummeting, and the stock market is floundering, resulting in a budget deficit of $22.5 billion in the coming fiscal year. And experts think SVB contagion will add to the stateโs woes.ย