436 GT Budget Updates 8 8 08

436 GT Budget Updates 8 8 08 - Budget updates DDI'08 GT...

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Budget updates DDI ’08 GT California economy California deficit is growing by billions each month.  The Sacramento Bee 8-8-2008 http://www.howestreet.com/articles/index.php?article_id=7154 The budget crisis in California continues. In case you missed it, this will catch you up to speed.California SynopsisCalifornia's deficit is growing by about $1 billion a month. California has the largest budget deficit in the US, dwarfing New York by a factor of three, and the Schwarzenegger has cut the wages of 200,000 workers to the US minimum wage which is lower than the California minimum wage .In response, state controller John Chiang sent a letter to Schwarzenegger saying he will defy the order and issue employees their regular paychecks. With that backdrop this might not seem so surprising. ... Counterplan is impossible – normal means proves California won’t pass plan – Arnold’s not passing new  legislation.  The Sacramento Bee 8-8-2008 http://www.howestreet.com/articles/index.php?article_id=7154 Gov. Arnold Schwarzenegger announced this afternoon that he is refusing to sign any bills into law until legislators pass a budget."There is no excuse for the Legislature's failure to reach a compromise and to send me a budget," Schwarzenegger said at a 2:45 p.m. press conference, more than a month into the new fiscal year. "Until the Legislature passes a budget that I can sign, I will not sign any bills that reach my desk." The move follows Schwarzenegger's order last week to drop to the federal minimum wage the salaries of most of of the state's 235,000 workers. After a budget is passed, they would be repaid.The governor also laid off more than 10,000 part-time and seasonal workers. 1
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Budget updates DDI ’08 GT Deficit spending Deficit is at nearly 500 billion.  Mayur Pahilajani - AHN News Writer U.S. Government Estimate Fiscal 2009 Deficit To Record $490 Billion http://www.gantdaily.com/news/11/ARTICLE/26627/2008-07-28.html
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