After an all-nighter, the California Senate and Assembly came to an agreement on the state’s dire budget crisis. Earlier this week, I asked how an entire state could go bankrupt… I guess that seems like a ridiculous question since America as a whole is teetering on the same precipise. ANYWHO…
“The Senate and Assembly voted in favor of an 18-month budget that combines spending cuts and new revenues, clearing the way for the bill to be signed into law by Gov. Arnold Schwarzenegger.
The budget includes $15 billion in permanent spending cuts, $12.8 billion in temporary tax increases and $11.4 billion in borrowing. It also creates a $1 billion reserve for fiscal 2009 to 2010.”
Calif legislature OKs budget after long standoff
Last 5 posts by Hillary Crosley
- Your Weekend Getaway In...Dutchess County, NY! - June 22nd, 2018
- Hotel Love: The Old Rhinebeck Inn - May 13th, 2018
- Cyber Monday Is Coming, Travel Deals Are Here! - November 20th, 2017
- Flying With Kids: The Good, The Bad, The Body Fluids - December 22nd, 2016
- Here's How Not to Ride a Bike in Amsterdam - October 24th, 2016