Digital Dharma

The Middle Path, One Day At A Time

Schwarzenegger says he will declare fiscal emergency

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Gov. Arnold Schwarzenegger on Friday said he would declare a fiscal emergency in California so he and state lawmakers can start cutting programs before shrinking tax revenue from the collapsed housing market leaves the state with up to a $14 billion shortfall over the next year-and-a-half.

The emergency will likely mean cuts to schools, colleges, prisons and aid programs for the poor, elderly, and out-of-work that have already spent nearly half their promised funding for the year.

Schwarzenegger says he will declare fiscal emergency

Author: Bill

Stumbling down the Middle Path, one day at a time.

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