AOL News has a new home! The Huffington Post.
Click here to visit the new home of Politics Daily!Hot on HuffPost:
Controversial Book On Obama Appears To Have Lifted Key Quote
Walker Recall Effort Struggles To Gain Momentum
california budget crisis
Jerry Brown Declares California Fiscal Emergency While Meg Whitman Is Named to HP Board
By David Knowles - AOL NewsTheir paths have diverged. Intense rivals in the 2010 race to become governor of the state of California, Jerry Brown and Meg Whitman spent today in markedly different ways. Gov. Brown declared a fiscal emergency for California, a procedural move that will reboot a 45-day clock that will allow him to put forth a new plan to help solve a nearly $27 billion budget shortfall, the Sacramento Bee reported. Brown's proposed budget is filled with big cuts to higher education and state services, and also calls for the revoking of cell phones from some government employees. Shortly before Brown made ...
Fiscal Emergency Declared in California, Washington; So What's Next?
By David Knowles - AOL News(Dec. 6) -- Things aren't so pretty out West. In a one-two punch of bad economic news, the governors of both California and Washington declared their states to be in a state of fiscal emergency and have called for their respective legislatures to hold a special session to deal with the ongoing problem. In both states, when an emergency session of the legislature is called, the governing body must concentrate solely on the issue at hand, rather than turn its attention elsewhere. So what options lie ahead for these two Pacific Rim states as each attempts to retailor its budget priorities? ...
California's Massive Debt Is for Sale, So Who's Buying?
By David Knowles - AOL News(Nov. 11) -- It may sound a little odd, but California's mounting deficit and debt woes might be a great investment opportunity. Over the next two weeks, the beleaguered state plans to offer guaranteed bonds to investors as a way of attempting to help bridge what is now estimated to be a looming $25 billion budget shortfall. As the Los Angeles Times reports, selling the revenue anticipation notes, or RANs, could generate much-needed cash for California and could also be a savvy move for those some individuals seeking a higher rate of return on their money. The appeal of the RANs: They're ...
The Dimming of a Dream in California
By Lou Cannon - Politics DailyThe California dream is fading. In the wake of a crisis-induced budget deal endorsed by Republican Gov. Arnold Schwarzenegger and passed Friday by a Democratic-controlled Legislature, Californians can look forward to drastic cuts in higher education enrollment and increased student fees and tuition, significant reductions in health coverage for the working poor, an end to cost-of-living increases for government workers and teachers, elimination of state support for immunization programs, reduction of welfare payments, and the closure of as many as 50 state parks. ...
California's $26 Billion Budget Deal Comes at a Cost
By Ria Misra - Politics DailyCalifornia officials say they've reached an agreement on the $26-billion state budget shortfall. Still, they're not quite ready to say when they'll be done sending out IOUs to their creditors. The Wall Street Journal reports that $15 billion will come in the form of budget cuts, the bulk -- $9 billion -- from education. More than $4 billion is being borrowed or redirected from local governments, a measure that has drawn fire from local officials. Gov. Arnold Schwarzenegger and California lawmakers have been at a stalemate for weeks as they tried to close the budget gap. During the ...
How Maria "Lysistrata" Shriver Could End California's Crisis
By Frances Tobin - Politics DailyAs a Californian, I hope I'll be forgiven for rolling my eyes over this year's Independence Day weekend. Instead of celebrating the red, white and blue beauty that is our flag, we're pretty focused on the mark of a red pen, and an overwhelming sense of dependence upon an increasingly inept California legislature and Governator. Earlier today, I received a letter from San Francisco State University's registrar's office, regretfully informing me that my fall course registration date was being pushed back; the budget crisis has forced the California State University system to cancel a ...
Follow Politics Daily
POPULAR
- Nancy Pelosi Confirms House May Skip Up or Down Vote on Senate Health Bill
- Debrahlee Lorenzana: A Double Take on Those Double D's
- Campbell Brown Quits CNN With Shockingly Frank Farewell
- Palin Earnings Estimated at $12 Million
- The Five Most Racist Obama Cartoons?
- Soraya M., Stoned to Death for Being an "Inconvenient Wife''
- Jimmy Carter Leaves Church Over Treatment of Women
- No posts are available.
News From Our Partners
- Dragon arrives at space station in historic 1st
- Picking new leader, Egyptians search for superman
- Egyptians vote in first free presidential vote
- Moon chips from Vegas casino mogul sent to NASA
- Egyptians vote to rid nation of autocratic rule
- More Stories »
- 'Masters of the Universe' Sure Have Fragile Egos
- Romney: My Mistakes 'Haunt Me'
- Newt Lauds Romney: He's Like Eisenhower
- Irked Senate Panel Votes 30-0 to Cut Pakistan Aid
- GSA Bash Organizer Steps Down
- More Stories »
- Know Your Enemy
- Obama’s Challenge in Egypt
- The Edwards Waiting Game
- Are Doctors Doing Too Much?
- The Pagan Cult of Reagan
- More Stories »
- Ambition Counteracting Ambition
- Robert Blagojevich Speaks Out
- In Iowa, Obama Calls Romney's Words 'A Cow Pie of Distortion'
- In Iowa, Obama Calls On Congress to Act on Clean Energy Tax Credits
- Romney Has Interesting Morning in Inner-City Philly
- More Stories »
Top News
More News
More on Aol
Local News
More Blog/Sites
Sites and Services
HuffPost Politics