On Monday, I reported that California was planning another huge giveaway, and it’s a doozy; the California Legislature, which I remind you is controlled by a Democrat super-majority, meaning that they can effectively do whatever they please, was in the process of passing a bill that would have given up to $150,000 to first-time home buyers — but only if they were illegal aliens.
See Related: California to Provide Subsidies of Up to $150K for Home Buyers – but Only If They’re Illegal Immigrants
Just when you thought California under the impeccably coiffed Gavin Newsom and the lunatic asylum that is the Democrats in the California state legislature couldn’t get any more ridiculous, someone sets the bar even lower. Now we see that the legislature’s Democratic supermajority is likely to pass a bill providing a home-buying subsidy for first-time real estate buyers of up to $150,000.
That sounds like a stupid enough idea all on its own, doesn’t it? Not only is this wildly inflationary, not only will it make homes even less affordable for your average Californian, not only is it an egregious waste of taxpayer money in a state that’s already going broke – but it’s also only available to people who are in the country illegally.
Now, less than 48 hours later, in a delicious irony, we learn that there’s just one problem: There’s no money to do this.
The schadenfreude, it is strong with this one.
The California Dream for All Program in June awarded 1,700 first-time homebuyers with financial assistance of up to 20% of a home’s value for down payment and closing cost help. But the program ran out of funds within its first 11 days this year, an issue that was at the center of Tuesday’s debate on the Senate floor.
Facing a budget shortfall in the tens of billions, the legislature and governor did not appropriate any funds for the program this year. In order to replenish the funds in future years, lawmakers and the governor will need to approve new money for it in future budgets.
Whoops.
Here’s the problem with this stupid idea: Even if the state legislature had bothered to appropriate money (that they don’t have; the state is broke), that flow of taxpayer cash is not unlimited. Setting aside for the moment that dumping this much money into California’s already horrifically expensive real estate market will just raise the price of housing in that state even further, every such grant given to someone who isn’t even supposed to be in the country — someone whose first act on entering the United States was to break the law — means that a grant will be denied a native Californian. A grant that may have gone to a young California couple or a veteran will go instead to an illegal alien. This is how nutty the California Legislature has gotten — this is the state California’s government is in.
Lest we forget, the guy leading this lunatic parade has presidential ambitions.
See Related: Gavin Newsom is Still Thirsty and Will Probably Be More Dangerous in 2028
Once again, California Democrats reveal their economic illiteracy — and once again, the California Legislature’s Democrat supermajority’s mouths are literally writing checks their butts can’t cash.
