As we begin to take action to protect students and employees by proactively making significant budget reductions at Sierra College, it’s worth taking a look at one of the major reasons we must act now and without delay.

Unemployment reduces income and sales tax revenue immediately. It also accelerates foreclosures, and the high volume of foreclosures has swamped the real estate market such that property tax revenues may decrease year-over-year for the first time ever.

I’m going to write some more this week about our budget, but here’s the bottom line: the hole is deep, and it’s getting deeper. Failure to act decisively now will cause more Sierra College employees to be a part of that horrible red line in the chart above. We can’t let that happen.

» See the chart and read commentary from Calculated Risk