Schwarzenegger Will 'Declare Fiscal Emergency' In Weeks

NBC11 ^ | 12/14/07 | Not given

[SpringheelJack]

Gov. Arnold Schwarzenegger said Friday he will declare a "fiscal emergency" in January to give him and the Legislature more power to deal with the state's growing deficit.

Schwarzenegger made the announcement Friday after meeting with lawmakers and interest groups this week to tell them California's budget deficit is worse -- far worse -- than economists predicted just a few weeks ago.

The shortfall is not $10 billion, but more than $14 billion -- a 40 percent jump that would put it in orbit with some of the state's worst fiscal crisis, those who have met with him said.

[SpringheelJack]

Fun times in Cali.

[AntiKev]

For those of you that don’t speak “politician” this means he’ll be increasing taxes.

[Cicero]

Arnold will come to the rescue by floating another bond issue. That’s my bet.

[camerakid400]

http://usgovinfo.about.com/od/immigrationnaturalizatio/a/caillegals.htm

[NormsRevenge]

emergency powers .. to give him and the Legislature more power to deal with the state’s growing deficit.

—

God help us all.

now if they could only also become temporarily sane, at least.

Spending cuts, now . any taxation increase is just stroking the goat.

[pogo101]

Total Recall II?

[FocusNexus]

I hope Schwarzenegger won’t let the Dems push him into raising taxes — as George H. W. did.

[FocusNexus]

I am an eternal optimist — maybe he’ll force the Legislature to cut spending. Wouldn’t that be great?

[BurbankKarl]

thanks for raising spending 40% schwarzi!

[BurbankKarl]

More Indian Casinos....Bigger Lottery....thats the ticket!

[Emmett McCarthy]

Schwarzenegger IS a Democrat

[ripley]

welcome to the state of california where vicious, smarty-pants, brilliant, intellectual politicians are taking the state to socialist utopia where everything is going to be socialized for the good of the children.

[NativeNewYorker]

emergency powers .. to give him and the Legislature more power

This is directive 10-289 from Atlas Shrugged, right?

[SpaceBar]

I hate to say it, but Gray Davis was an able and competent politician in comparison.

[Caipirabob]

Perhaps the more conservative counties should secede from the state of California in order to avoid the massive tax payer bail-out about to take place?

[RKV]

Recall Arnie, elect McClintock. Should have done that the first time damnit!

[Squeako]

Haha. I can’t wait to hear what McClintock has to say! It’ll be priceless (and expected)!

[SierraWasp]

I don't think they ever repealed the Gray Davis "Fiscal Emergency," did they?

All the numb-nuts bondage nazi had to do was muscle the legislature to rein in the stupid squandering like Tom McClintock recommended in the first damn place!!!

I'm so sick of the mess these lump-jawed leftists, from Wilson to Davis to Schwartzenstubborn have made of this state's finances. They have just squandered all the Golden State's potential for years to come with severe debt service loads beyond anything allowed in our state constitution, EVER!!!

Schwartzenegger simply borrows, squanders and sucks hard!!!

[SpaceBar]

Tom McClintock is an occasional guest on KSFO’s Barbara Simpson program. His grasp of the economic big picture and breadth of knowledge regarding sound fiscal policy always amazes me.

[Kevmo]

Where are all the freepers that once supported this RINO? We were right to support the true conservative over the hollywood hopeful.

B4DH

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According to Intrade, the winner of the December 12th GOP debate was... Duncan Hunter.
http://www.freerepublic.com/focus/f-news/1938773/posts