The nonpartisan Legislative Analyst's Office provides a grim picture. Some specifics (via Capitol Alert):
-Eliminate K-3 class size reduction ($1.275 billion)
-Require that kindergarteners be 5 years old at enrollment in 2011-12 ($700 million)
-Increase tuition another 7 percent for UC and 10 percent for CSU ($270 million)
-Reduce CSU enrollment by 5 percent ($124 million)
-Eliminate food and cash aid for noncitizens whom courts have determined can receive 
benefits ($190 million)
-Stricter income eligibility for welfare-to-work recipients ($180 million)
-Reduce state contribution to employee health care by 30 percent ($330 million)
-Allow oil drilling at Tranquillon Ridge ($100 million)
-Reduce wildland firefighting costs by imposing a new fee on residential property owners in areas protected by the state ($300 million)
All told, the LAO offered $13.5 billion in alternatives to the tax extension, which Gov. Jerry Brown is pushing to get on the ballot in June. Brown has been deliberately avoiding such a laundry list of cuts, which of course would be in addition to the $12 billion-plus worth of trims that he's already proposing.
Jason Sisney, LAO director of state finance, emphasized that his office was not necessarily recommending the cuts, but offering options that responded to a hypothetical suggested by Leno. "We tried to score savings we thought were realistic under the law," Sisney said. "We attempted to identify as many options that would avoid touching core programs as much as possible."

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   Mark Lacter created the LA Biz Observed blog in 2006. He posted 
until the day before his death on Nov. 13, 2013.
Mark Lacter created the LA Biz Observed blog in 2006. He posted 
until the day before his death on Nov. 13, 2013.