The Governor came to talk to elected officials today in San Jose.  We knew he was bringing bad news, we just didn’t know how bad.

• The Bad News: the Governor  explained the “May Revise”  of the budget would reveal a stunning $15.4 Billion deficit.
• The Worse News: if Propositions 1A-F do not pass, the deficit will be $21.3 Billion.
• The Really-Vile News: In the case of the $21.3 deficit, the legislature will likely enact the law allowing the state to “borrow” funds from local governments.

The meaning for San Carlos – about $900,000 of our property tax dollars will go to the state.

Ouch.