Wednesday, December 17, 2008

Governor Schwarzenegger declares fiscal emergency

Governor orders the new Legislature in to work on its first day of the session to deal with California's dire finances. The state could run out of cash by February or March.

Gov. Arnold Schwarzenegger ordered the new Legislature in to work on its first day, declaring a fiscal emergency Monday in response to the state's deteriorating finances and urging lawmakers to "get off of their rigid ideologies."
But even as Schwarzenegger warned that California could run out of cash within two months, there was little indication that the Capitol's partisan gridlock has waned enough to allow for an easy resolution to the state's $28-billion budget gap
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