Governor Bob Taft is warning his top officials to prepare for deep budget cuts and a likely tax increase. A published report today says that Taft told directors of state agencies that the deficit could significantly exceed the current budget gap of 65-million dollars. Taft’s budget director Tom Johnson has warned agencies to prepare for tax increases and cuts beyond those Taft has already suggested. Taft officials won’t say what kids of taxes they’re discussing. The state has only five months left to balance the budget.