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48%  
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  • CA: Controller raises borrowing estimate

    03/06/2003 7:38:02 PM PST · by NormsRevenge · 4 replies · 269+ views
    Sac Bee ^ | 3/6/03 | AP
    <p>The state controller is raising his estimate of how much California will have to borrow this summer as a stalemate over budget cuts and vehicle license fee increases drags on in the Legislature.</p> <p>Controller Steve Westly says the state will have to borrow $4 billion to $11 billion in June to keep its operations running as lawmakers try to erase a budget deficit that could reach $34.6 billion over the next 16 months.</p>