As you may have heard, this week the Legislative Analyst said that California faces a potential six billion dollar deficit in the current fiscal year which starts July and goes to the end of June next year. There are a few reasons for this: the global economic crisis is still hurting job growth and our revenues. Also, a few weeks ago, the people passed an initiative to say that we can't take certain moneys from local government.
As you may have heard, this week the Legislative Analyst said that California faces a potential six billion dollar deficit in the current fiscal year which starts July and goes to the end of June next year. There are a few reasons for this: the global economic crisis is still hurting job growth and our revenues. Also, a few weeks ago, the people passed an initiative to say that we can't take certain moneys from local government.