So will California ever fill its $19 billion budget hole?
Schwarzenegger’s proposal hasn’t changed much since last spring. It centres on $12 billion in cuts, eliminating a state welfare program and most state support for child care.
Democrats want only $8 billion in cuts, with additional revenue from corporate and income taxes.
Yesterday’s three hour budget meeting ended with disappointment. There was a rumour that Schwarzenegger would balance the budget by borrowing from state pension funds, but the governor has denied these, according to LA Times.
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