by John Myers
A new report estimates that California officials will face a budget gap of nearly $21 billion over the next year and a half.
Not only is there no light at the end of the tunnel of California’s annual budget deficit — there’s not even an end to the tunnel.
“I think it’s going to be a very difficult year,” says Mac Taylor, California’s legislative analyst. He leads nonpartisan budget experts that advise state lawmakers.
Taylor says the state may come up about $6 billion short by next July, $14 billion short the fiscal year after that, and at least $20 billion in the red every year for the next five years.
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