How big is $2.6 billion?

Eight zeros. $2,600,000,000.

6,668,200 people live in the state.

So: The current projected budget gap of $2.6 billion for the 2009-2011 biennium is $389.91 per man, woman and child.

That’s why Gov. Chris Gregoire told Austin Jenkins on TVW yesterday that there is no way to tax out of this. Since there’s no great way for me to calculate the increase in sales tax that would have to be in effect to raise an additional $2.6 billion, I’ll put it this way: The state retail sales tax is 6.5 percent. In order for the $2.6 billion to appear in the budget, every single Washingtonian would have to buy a taxable item worth $5,998.60 in the next 18 months. And that’s on top of what they’re already spending.

But, Gregoire told TVW, there’s no way to make an all-cuts budget, either: As she’s said before, you could close every single community and technical college in the state AND the departments of Revenue and Commerce and still not get to $2.6 billion.

Her point: The budget will need to be a combination of cuts and taxes.

There are, of course, differing opinions. Check back here later today for the Thursday Q&A, in which leaders in the House share their ideas for solving the budget crisis.

Tags: Budget, deficit, Gregoire, taxes