Max Bonilla publicly accused California Gov. Gavin Newsom’s administration of making a $2 billion calculation error in the state budget and then mischaracterizing the issue after it was identified.
Bonilla said the discrepancy involved accounting related to the California Public Employees’ Retirement System, commonly known as CalPERS, and described how the error affected projected employer contributions.
“Governor Newsom’s office made a $2 billion calculation error in regards to the state budget and then lied about it to the public, and they actually covered this up for months.”
He said the handling of the issue raised concerns about transparency and competence within the administration.
Here’s What They’re Not Telling You About Your Retirement
“This should be disturbing to you, with all the fraud that’s going on across the United States of America, it shows you how incompetent they are. Shows you that they can’t even do basic math, and they can’t even be transparent to the public when it really comes down to it.”
Bonilla said officials referred to the issue as a revision rather than an error, which he criticized.
“And instead of calling this an error, they’re calling it a revision. And that, my friends, is revisionist history.”
According to Bonilla, the accounting problem involved double-counting employer contributions to CalPERS, the retirement system that provides benefits to public employees after they leave service.
This Could Be the Most Important Video Gun Owners Watch All Year
“So this involved the administration double counting employer contributions to CalPERS, which is known as California’s retirement system, where they pay people who are veteran employees, who have retired and are now doing their own thing.”
He outlined the breakdown of the amounts tied to the error, saying the largest portion was connected to contributions for the upcoming fiscal year.
“And so the first miscalculation was worth about $1.6 billion for employer contributions for the upcoming year. The second miscalculation was $450 million for contributions to do with future years.”
Bonilla also referenced recent federal enforcement actions related to fraud, pointing to activity in Los Angeles.
“Isn’t that crazy guys to think about? We just had this giant sting in Los Angeles. Vice President JD Vance actually stopped 500 hospices from continuing their operations.”
He said those actions were part of a broader federal effort to address fraud.
“So we have a federal fraud task force that President Trump has put together.”
Bonilla contrasted that effort with what he described as a lack of similar action at the state level in California.
“Yet we don’t have a task force in California because they want to not legalize one. They want to not authorize one. That’s politics for you here in California.”
He also addressed a separate issue involving legislation related to journalism and public accountability, referencing an encounter involving questions posed to lawmakers.
“And When Nick Shirley went and confronted legislators on why they’re pushing this bill to criminalize journalism when it comes to all this stuff, they had nothing to say. In fact, they dodged his questions, and they know, they know that they’re lying.”
Bonilla returned to the budget issue, saying the scale of the discrepancy raised broader concerns about oversight.
“So we had a $2 billion calculation error. Imagine where all this other fraud money is going that we don’t even have any idea about yet.”
He concluded by questioning the accuracy of financial management within the state.
“Where are the accountants at because the ones they’ve got suck.”
WATCH:
Warning: Account balances and purchasing power no longer tell the same story. Know in 2 minutes if your retirement is working for you.
Read the full article here


