Education Cuts in Washington State

I was mortified when I saw the governor's state budget cut proposal of $1,300,000,000. Wow! What does this mean in terms of existing schools? I knew that seven Seattle schools were on the chopping block, but does this budget cut mean than even more schools will close? Will teachers be laid off? What does this do to my chances of becoming a teacher? Should I expect it to take a few years to find a job in the area, or should I move to another state? One thing is for sure, I'm glad that I'm getting certified through the University of Washington Bothell. I know that I will have the training and experience to make me more attractive in the job market.