California facing higher $16 billion shortfall May 13, 2012 11:48:10 GMT -5 Quote Select PostDeselect PostLink to PostMemberGive GiftBack to Top Post by popcorn on May 13, 2012 11:48:10 GMT -5 California facing higher $16 billion shortfall The Democratic governor said the shortfall grew from $9.2 billion in January in part because tax collections have not come in as high as expected and the economy isn't growing as fast as hoped for.news.yahoo.com/california-facing-higher-16-billion-shortfall-213905732--finance.html