Here come the Cal Trigger cuts

Why the Downgrade and Market Volatility Are Especially Bad for California

This may be dire for California. If revenues fall short by more than $1 billion, the state will slash $600 million from universities, libraries, child care, health care and other services, starting in January. If revenues miss the mark by $2 billion, schools will give up an additional $1.9 billion and see grim measures such as a shortening of the school year by seven days. That would occur after the budget that was passed in June already called for cuts to universities and the judiciary, and after lawmakers approved $11 billion in total cuts in March. "While we hope for better news in the months ahead, every drop in revenues puts us closer to the drastic trigger cuts that could be imposed next year," Chiang said.

Select the $2B trigger, exactly 6 weeks after the budget was signed.