The teachers union will be quite upset

CalMatters:

California finance officials revealed a $54.3 billion deficit today in the first economic assessment of the coronavirus pandemic’s devastating blow to the fifth-largest economy in the world.
That figure is higher than the deficit during the Great Recession and obliterates the state’s once-healthy reserves.
Without sugar-coating how hard the prolonged shutdown of businesses and job losses will hit the state, Gov. Gavin Newsom’s administration released bleak projections on key statewide indicators: 18% unemployment rate for the year, 21% drop in new housing permits and nearly 9% decline in California personal income.

The California numbers signal a financial tsunami and cuts to schools, health care and safety-net programs, as state and local governments turn to the federal government for additional stimulus support. In one example, California’s public school system, including K-12 and community colleges, will lose $18 billion in the state’s minimum-funding guarantee, setting back years of striving to reach adequate education funding.