After two years of unexpectedly large budget surpluses, California faces a budget deficit next year for the first time since 2020. The shortfall is projected at about $24 billion dollars, but luckily the state has socked away billions in its reserves and rainy day fund.

The question now is should California dip into that piggy bank to balance the books next year, or cut spending or delay some programs as recommended by the state’s legislative analyst?

For more, KCBS Radio's Doug Sovern, Pat Thurston and Bret Burkhart were joined by State Assembly member Phil Ting of San Francisco. He chairs the Assembly Budget Committee and today he released his budget blueprint for how to tackle the 2023 deficit.