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Keyword: 14billion

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  • State Budget Shortfall Widens ($14 Billion Deficit - Tom McClintock Was Right Alert)

    12/12/2007 10:34:32 AM PST · by goldstategop · 39 replies · 525+ views
    Los Angeles Times ^ | 12/12/2007 | Jordan Rau
    Gov. Arnold Schwarzenegger told social service advocates Tuesday that the state's anticipated budget shortfall -- already feared to be the worst since he took office -- has widened to $14 billion, according to people at the meetings. That new figure indicates that the state's fiscal fortunes are declining even more rapidly than many leaders had expected. Less than a month ago, the Legislature's chief budget analyst calculated that California is on track to come up $10 billion short by June 2009, when the state ends its next fiscal year. A $14-billion budget gap would translate to more than 12% of...