Shocking Reality: We are $698 million more in debt

"The state's chief economist, Arun Raha, on Thursday projected the state will collect nearly $700 million less in taxes over the next two years than previously forecast. That pushes the budget shortfall to around $5.1 billion or more, depending on how you count it, through fiscal year 2013. State fiscal years run from July 1 through the end of June." ( Seattle Times)

So if you haven't heard, we are even further in debt than before. So the cuts to higher education we were worried about will only get bigger with a 11% increase being the minimum that it might go up. Teacher unions and state workers unions that protested against reducing their state  benefits, might have to reevaluate their strategy. With our state not being able to raise taxes with out a 2/3 majority, the only thing we have left to do is cut.

Get ready for some intense rallying and protesting at our capital because people and services are going to be getting cut. And with every dollar goes another voter. So with all eyes once again on our legislators what projects will they cut? Will they reduce the size and the power of regulator organizations? Will the state expand the gambling taxes and allow more off reservation gambling? Will we privatize the whole sale of liquor in our state? Will we finally allow charter schools in our state? What will out state do?

Out of every crises comes opportunities, and with our state having to cut back on costs, we will be able to in-act sweeping reform in our state the likes of which we have not seen in a long time. But the question beckons, what form will that change take?