LOS ANGELES -- California's cumulative budget shortfall for this fiscal year and the next could range from $4.9 billion to $8 billion, depending on the recession's lenth, the Commission on State Finance said in a forecast released yesterday.

But the bottom line is that earlier budget projections are out the window because recovery is taking longer than expected to materialize, the commission said in its "1991 Annual Long-Term General Fund Forecast."

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.