The bankers in the previous post said we were at the bottom...:
California’s budget crisis has gotten worse while the Legislature has dithered and taken time off, Governor Arnold Schwarzenegger says.
The state will now be $14.8 billion in the red by the end of the fiscal year in June if nothing is done, the governor says.
The number is new. The last estimate had the red ink measured at $11.2 billion.
“No one should leave town,” the governor says of the Legislature, now in special session but with few lawmakers actually in Sacramento. “I urge the Legislature to solve this financial crisis immediately.”
Mr. Schwarzenegger says lack of action by the lawmakers, who set spending and taxation levels is making the fiscal crisis worse by the day. “I’m frustrated,” he says. “I cannot make them stay here. I cannot lock them into the building. I do not have those kinds of powers.”
1 comment:
The number is new. The last estimate had the red ink measured at $11.2 billion.
PTo people who have been following these events that number has been obvious since mid-September.
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