LA Times: Budget Stalls as California Nears Fiscal Collapse

[marmar]

On brink of financial collapse, state lawmakers struggle with budget passage

By Evan Halper and Jordan Rau
3:18 PM PST, February 15, 2009


REPORTING FROM SACRAMENTO -- Lawmakers continued struggling to pass a budget this afternoon after working nearly around the clock to end a three-month impasse that has brought California to the brink of fiscal collapse.

An all-night legislative session failed to yield enough Republican votes for the spending plan, as GOP legislators troubled by the tax hikes it contained demanded last-minute concessions.

Gov. Arnold Schwarzenegger and legislative leaders had spent the early morning hours scurrying to round up a final Republican vote believed to be needed for the plan to pass the state Senate. Lawmakers and staff had said there was enough GOP support in the Assembly for approval of the plan in that house.

By this afternoon, however, there was concern that the Assembly's Republican votes could melt away if the stalemate dragged on.

Republican and Democratic leaders had expressed confidence late Saturday night that the Legislature would finally break its three-month logjam and approve a bipartisan proposal to close what is projected to be a $41-billion deficit by the middle of next year.

But several hours after voting on the package of 27 bills began Saturday night, the momentum stalled. Sen. Dave Cox (R-Fair Oaks), who Democrats say indicated in private talks he was prepared to vote for the budget plan put together by the governor and legislative leaders, announced he would not support it. A spokeswoman for Cox said the senator was never on board with the budget plan. ...........(more)

The complete piece is at: http://www.latimes.com/news/local/la-me-budget15-2009feb15,0,278140.story

[proud patriot]

1. Are we having fun yet ?

:sarcasm:

[NashVegas]

2. Recall Gray Davis!

Oops! Already tried that one.

[Skink]

3. Arnolds probably sneaking a Cigar inside right about now.

[bluestateguy]

4. At what point is the Obama Administration going to have to get involved

California is the 7th biggest economy in the world, and vital to the US economy. At a certain point, Obama may have to act. I'm not sure how, or what he could do, but I don't think we can just let CA go down the tubes.

[Catshrink]

5. Is this how the USSR collapse began?

One state at a time after getting bogged down in an unwinnable war?

[nini]

6. The repubs fucking around with this need to be hung

The fuckers are going to put the final nail in the coffin. Bastards.