California's budget crisis just got worse

Gov. Arnold Schwarzenegger announced this morning that the state's financial crisis has worsened substantially in recent weeks, with the projected budget deficit growing by another $3.6 billion.

The news from the governor, delivered in a hastily arranged press conference, comes as lawmakers have yet to heed his call to address the problem in emergency sessions of the Legislature. He said the state will have to pull the plug on billions of dollars of road and school construction projects if action is not taken by month's end.

By the end of February, the governor said, the state will be out of cash and forced to pay its bills with IOUs. The state's projected budget gap through mid-2010 now stands at more than $30 billion.

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--Evan Halper and Jordan Rau

Comments

[syscom3]

So I suppose we need four billion more in taxes?

[Randy]

Arnold is a Girly Man. He can't manage a budget. Also God is not pleased with him for his stand on Prop 8 so he can't get no grace either. Nobody wants to be associated with the Duh Duh Governator. Arnold always say Duh Duh between words and the Mayor of L.A. always say ah ah between his words. What a bunch of dopes. Don't they watch and listen to their performances. Obama has finnaly showed us how an intellegent person performs in public and what public speaking is supposed to be like. How did we elect dopes like these not to mention George Bush. The people deserve the Govm't they have.