By Steven Malanga, includes “Every state and municipal budget in America will take a big hit because of the coronavirus lockdowns, but no public purse is in as much trouble as California’s. … Still, though Governor Gavin Newsom said last weekend that the staggering deficit was ‘a direct result of Covid-19,’ that’s clearly not true. … Earlier this year, when California was flush with revenues and spending liberally, Newsom boasted that his state was ‘America’s coming attraction.’ Let’s hope not.”