International Media

California declares fiscal emergency over budget


SAN FRANCISCO (Reuters) - California Gov. Arnold Schwarzenegger declared a fiscal emergency on Wednesday, forcing lawmakers to tackle a budget gap that has raised the prospect of drastic measures to keep the state working.

Lawmakers debated late into the night Tuesday but could not agree on a plan to balance California's budget -- now showing a deficit of $26.3 billion -- in time for the new fiscal year, which began on Wednesday.


For the full Reuters article, see this link: http://www.reuters.com/article/newsOne/idUSTRE5601F220090702




   


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