Not to mention how much harder it is to raise taxes in a down economy.
The California budget is a fantasy. Tax revenues routinely fall 5% under estimates. And now this strike/lockout is shutting down businesses all over the state.
California is already getting a short-term loan "in anticipation of tax revenues" for $12.5 billion later this month just to make ends meet. After this port shutdown, that ain't gonna' be enough. I figure that California "loses" $200 million in tax revenue each day this shutdown continues.
This should be fun to watch!