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By Kevin Yamamura and Dan Smith
(The Sacramento Bee) Gov. Arnold Schwarzenegger estimated Monday that California’s budget will fall out of balance by $5 billion to $7 billion this fiscal year, on top of a $7.4 billion gap already projected for 2010-11.
If true, state leaders would confront at least a $12.4 billion to $14.4 billion problem when Schwarzenegger releases his budget in January. California currently has an $84.6 billion general fund budget.
The Republican governor spoke with The Fresno Bee editorial board Monday after signing a bill placing a water bond on … Continue Reading
(The Sacramento Bee) California’s state budget crisis is so severe that the Pew Center on the States, a Washington-based policy think tank, is using it as an example of conditions that imperil other states.
Nine other states, the Pew report says, … Continue Reading
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By Steve Wiegand
McClatchy Newspapers
(The Sacramento Bee) It took long months of delicate negotiations – and the last-minute deletion of a project dear to the heart of the state’s most powerful legislator – for California lawmakers to craft what could turn out to be one of the most pivotal water deals in state history.
Now comes the hard part:
The plan’s proponents must convince a debt-weary, politician-leery electorate that it’s a deal worth what could be a $25 billion-plus price tag by the time it’s paid.
“We’re done with part one,” Assembly Speaker … Continue Reading
