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California in crisis
The ongoing saga of the people who refuse to live within their means. Federal Bailout on the way?
Yahoo:
Gov. Arnold Schwarzenegger declared a fiscal emergency Monday and called lawmakers into a special session to address California’s $11.2 billion deficit.
The state’s revenue gap is expected to hit $28 billion over the next 19 months without bold action. The emergency declaration authorizes the governor and lawmakers to change the existing budget within the next 45 days.
Without quick action, the state is likely to run out of cash in February.
Schwarzenegger and Democrats have proposed a combination…
2Dec2008 | The Real Deal | Comments Off | Continued
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