State revenues will be nearly $4 billion below projections for the current fiscal year, triggering about $2 billion in budget cuts under a deal reached earlier this year between the Legislature and Gov. Jerry Brown, the non-partisan Legislative Analyst says in a new forecast released today.
The cuts would hit hardest on kindergarten through community college education but would also impact higher education and an array of health and social services.
Among the targets: developmental services, child care, and Medi-Cal.
But that’s only the beginning. Those cuts would be applied in the current fiscal year in January.
The LAO also forecasts a $13 billion shortfall in the fiscal year that begins July 1, 2012. More cuts — or tax increases — would be needed to balance that budget.
See the LAO’s forecast and explanation of the triggered cuts here.