Mac Taylor — legislative analyst — explains how bad it is:
- We are coming off a very difficult year where we didn’t have a budget until September
- We have a large ongoing deficit that’s not just going to go away on its own , even if we try to wait it out
- The economy at large isn’t expected to get better until 2010.
Then, he describes what cuts-only/revenues only budgets would look like:
With taxes alone
- 2 cent sales tax
- 15 percent pit surcharge
- 2 % corporate tax.
With cuts alone?
- Eliminating funding for UC CSU
- Eliminate all funding for welfare
- Eliminate all funding for developmental services, mental health and IHSS
The sooner everyone acts, he said, the less harsh and less hard it will be to balance the 09-10 budget.