Public Education and Next Month's Election

Two measures on next month's statewide ballot would provide new money for public schools.  Proposition 38 is sponsored by LA attorney Molly Munger and backed by the State PTA.  It would increase income taxes on all but the poorest Californians to raise $10 billion a year for K through 12 education. It would also impact higher education in California. Governor Brown's Proposition 30 would raise everybody's sales taxes and income taxes on those earning more than $250,000 a year. This year's budget is balanced on the assumption that Prop 30 will pass. What could happen there if Prop 30 failed to pass?