California Enters Record 79th Day Without A Budget

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California celebrates its record 79th day without a budget today. As teachers begin work without pay and state employees face mandatory furloughs, this is beginning to be a problem.

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.

Check out 16 Reasons Why California Is The Next Greece >

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