California’s Projected Deficit Nearly $21 Billion
Sacramento, CA -- California's top budget analyst says the state will face a $20.7 billion General Fund deficit over the next year and a half.
Legislative Analyst Mac Taylor says the budget problem will consist of a $6.3 billion deficit for the 2009/10 fiscal year and an additional $14.4 billion in 2010/11.
Taylor writes in his report, "Addressing this large shortfall will require painful choices, on top of the difficult choices the legislature made earlier this year."
The state and Governor Schwarzenegger will have to decide whether to cut programs, borrow, raise taxes or a combination of the aforementioned.
Written by bjhansen@mlode.com.
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