History: December 18 (#5)

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Contemporary Politics & Power War & Conflict

December 18, 2002 California gubernatorial recall: Then Governor of California Gray Davis announces that the state would face a record budget deficit of $35 billion, roughly double the figure reported during his reelection campaign one month earlier.

Commentary

Source: Wikipedia (CC BY-SA)

On December 18, in the year 2002: California gubernatorial recall: Then Governor of Califor nia Gray Davis announces that the state would face a record budget deficit of $35 billion, roughly double the figure reported during his reelection campaign one month earlier. The government budget balance, also referred to as the general government balance, public budget balance, or public fiscal balance, is the difference between government revenues and spending.

Commentary

Source: Internal

Why December 18, 2002 matters: California gubernatorial recall: Then Governor of C alifornia Gray Davis announces that the state would face a record budget deficit of $35 billion, roughly double the figure reported during his reelection campaign one month earlier. What began on this day left a lasting mark on history. The effects were felt immediately and continued to shape events, ideas, and lives long afterwards.

Commentary

Source: Internal

Historical context: December 18, 2002 The 21st century has already seen profound shifts: the digital revolution has connected bi llions while reshaping politics and culture; climate change has emerged as a defining crisis; and new powers have risen to challenge the world order that followed the Cold War. The event on this day: California gubernatorial recall: Then Governor of California Gray Davis announces that the state would face a record budget deficit of $35 billion, roughly double the figure reported during his reelection campaign one month earlier. Source: https://en.wikipedia.org/wiki/Government_budget_balance (Wikipedia, CC BY-SA)