California's budget deficit has swelled to a projected $16 billion — much larger than had been predicted just months ago — and will force severe cuts to schools and public safety if voters fail to approve tax increases in November, Gov. Jerry Brown said Saturday.
Brown said the shortfall grew from $9.2 billion in January in part because tax collections have not come in as high as expected and the economy isn't growing as fast as hoped for.
Will Californians prove to be saps and vote for higher taxes or will they do the Greek thing and vote against higher taxes? We will find out in November.
One point Californians should keep in mind, even if taxes are raised, it won't be enough to solve long term budget problems, given the state entitlement programs. Further the oppressive taxes and regulations in the state are causing more and more businesses to flee the state, cutting the tax base on a daily basis.