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Tuesday, November 17, 2009

California Still Faces Large Budget Deficit

by Calculated Risk on 11/17/2009 11:59:00 PM

From the LA Times: California faces a projected deficit of $21 billion

Less than four months after California leaders stitched together a patchwork budget, a projected deficit of nearly $21 billion already looms, according to a report to be released Wednesday by the state's chief budget analyst.

The new figure -- the nonpartisan analyst's first projection for the coming budget year -- threatens to send Sacramento back into budgetary gridlock and force more across-the-board cuts in state programs.
The projected deficit includes $6.3 billion for the remainder of the current fiscal year (ends June 30th), and $14.4 billion for the next fiscal year.

It just keeps getting worse ...