Posted on 07/15/2009 9:44:34 PM PDT by Ernest_at_the_Beach
SACRAMENTO — Gov. Arnold Schwarzenegger and legislative leaders say they're nearing a deal to close the state's $26.3 billion deficit. And despite California's left-leaning electorate, the final product is almost certain to be settled on Republican terms, with deep spending cuts to most state programs and no new taxes.
After huddling in the governor's office until almost midnight Tuesday, the Big Five — Schwarzenegger and the four Democratic and Republican leaders of the Assembly and Senate — reconvened Wednesday afternoon for another lengthy negotiating session. All sides said they are within striking distance of a deal.
But emerging from the governor's office for an hourlong break Wednesday evening, the Democratic leaders hinted that they are agonizing over a final few decisions to close a deal.
(Excerpt) Read more at mercurynews.com ...
Looks good.
“California, which would be the world’s eighth largest economy if it were an independent nation,”
At one time Argentina had the eight-largest economy. California has done exactly what they did with the same result.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.