Wednesday, July 2, 2008

State Budget Crisis Officially Starts

By Chris Thompson
Wed, Jul 2, 2008 at 8:18 AM

With all the hype surrounding the Deborah Edgerly scandal, could we be missing something important going on? Hmmm. How about the fact that the state of California still has a $15 billion budget deficit? The new fiscal year began yesterday, and lawmakers aren't even close to reaching a deal on whether to raise taxes, cut spending, invent cold fusion, or counterfeit money. But according to the San Jose Mercury News, that didn't stop legislators from going home for a month-long vacation! state Senate President Don Perata is sure to be working to reach a deal, of course, and he told the Merc that he won't tolerate massive the spending cuts proposed by the guv and Republicans in the legislature. The proposed deadline to reach a deal is August 1, but we'll take even money that won't happen.

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