Posted on 11/13/2010 1:43:35 PM PST by Ernest_at_the_Beach
Declaring that California faces a fiscal emergency, lame-duck Gov. Arnold Schwarzenegger said Thursday he would convene a special session of the incoming Legislature to address the state's massive budget deficit.
The announcement came one day after the state's chief budget analyst said the fiscal shortfall has grown to $25.4 billion over the next year and a half — far larger than officials had estimated only days earlier.
Legislative Analyst Mac Taylor estimated that the budget which Schwarzenegger had signed 35 days ago already had fallen $6.1 billion into the red because of optimistic assumptions that had proven incorrect.
The goal of the special session would be to address at least the current shortfall, Schwarzenegger spokesman Aaron McLear said.
The special session would convene Dec. 6, the day the incoming class of legislators — including 28 freshmen — is set to be sworn in.
By then, Schwazenegger will have less than a month in office and has not indicated that he has new ideas for addressing the budget problems that stymied negotiators for a record 100 days this summer and fall after the July 1 budget deadline.
"Legislators will have to face the ugly truth that we can only spend the revenues we have," Schwarzenegger said in a statement. ".... They know it won't be easy, but they also know they cannot wait to take action."
(Excerpt) Read more at latimes.com ...
Is the state of California ever NOT facing a "fiscal emergency"? Arnold should be saving a proclamation for that event. The fact California is bankrupt and can't pay its bills is just old news and business as usual at the statehouse.
Hope all the Arnoldbots who voted for this socialist enjoyed their seven years of "Republican rule"
We could have got to this point sooner with the other guy.
For some California Freepers!
Why didn’t Arnold run for any office? Maria told him ‘No!’ or just not interested any more.
In the soon ending 111th Congress the big spenders in California, Illinois, and New York had a lot of clout with 73 Democrats among the 257 Democrat MAJORITY.
In the upcoming 112th Congress California, Illinois, and New York still have 66 Democrats, but that is among the 193 Democrat MINORITY.
Stay alert because this Special Session in California could be linked to something being cooked up by Pelosi’s Lame Duck Congress to bail out California, Illinois, and New York.
California, Illinois, and New York know the 112th Congress is not going to be sympathetic to the financial problems they have created for themselves.
“My fellow legislators, I think I have discovered our budget problem. We are not taxing and spending... nearly enough”.
The crowd cheers.
the effort will fail but the gov has covered his ass
Excellent point!
And that's all ObamaCare was ever about: dumping the vigorish bill on the rest of the country.
Now they can't shake down all the solid citizens in the states that aren't feeding "public employees" and illegals.
Panic time at the gangbanger's house - the shills aren't paying!
DUH!
And once again, they'll play the smoke and mirrors game and continue their irresponsible spending.
He is termed out out. Brown was Governor before the so the law was passed so they let him do a third term.
OK, fair enough but will they take a hard look at why the optimism failed to materialize?
So...they REALLY don't have an emergency as I see it.
The Terminator’s fault.
Depth of California thinking is “The end is not here yet and the end will come as it comes without any further interference from us”.
They want a bailout before the new congress????
California expects a bailout from all possible sources at all times, at anytime, especially right now.
exactly!!!!!!!!
As long as the rest of us don’t have to pay one more dime for this debacle, the California legislature can knock itself out as far as I’m concerned.
No bailouts for states, no matter how much it hurts. Tax your own citizens, CA. Maybe they will get a clue.
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