Tag Archive for California budget crisis

No Budget, IOUs, Home for the Holiday Weekend

From the Orange County Register’s Jennifer Muir and Brian Joseph: SACRAMENTO – Lawmakers headed home Thursday without a budget deal, as the state controller’s office began printing tens of thousands of IOUs, leaving vendors, municipal governments and students who receive financial aid bracing for the worst.  Action on the budget appears to be stalled until Monday,…

Schwarzenegger: Democrats are wasting time

Just up on the LATimes.com Arnold Schwarzenegger says Democrats are wasting time on flawed budget plans The California governor says he will veto the Legislature-approved package, which includes tax hikes. The state is days away from having to issue IOUs. By Shane Goldmacher, Reporting from Sacramento — Gov. Arnold Schwarzenegger today scolded Democrats for squandering…

Budget Committee Says No Taking Local Funds

The LATimes reports this morning on the meeting of the California Legislatures Budget Conference Committee. The committee has said no to Arnold’s plan to steal funds from local governments, and also reduce dramatically some of the other program cuts he proposed. There are still plenty of final budget decisions that need to be made to close…