Already down 7 billion

Experts agree that California faces significant deficit problems for years to come, even if the state survives through this year. Department of Finance Director Mike Genest said the state faces a $7 billion to $8 billion structural deficit in the next fiscal year, with even worse shortfalls after that because temporary sales, vehicle taxes and income taxes end starting in 2011.

This is before anything comes up short of projections or any of around 2-3 billion in unresolved questions from this latest budget revision are dealt with. We are so fucked.

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