Our forecast of California’s General Fund revenues and expendituresshows that the state must address a General Fund budget problem of$20.7 billion between now and the time the Legislature enacts a 2010–11state budget plan. The budget problem consists of a $6.3 billionprojected deficit for 2009–10 and a $14.4 billion gap between projectedrevenues and spending in 2010–11. Addressing this large shortfall willrequire painful choices—on top of the difficult choices the Legislaturemade earlier this year.
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