Guv Declares Fiscal Emergency

Facing an $11 billion budget deficit and no apparent action by the state legislature, Governor Arnold Schwarzenegger has declared a fiscal emergency, forcing legislators to meet and resolve the crisis. Under state law, 45 days after the governor declares such an emergency, the legislature must stay in session and cannot consider any bills except how to put the budget back in the black. “In an emergency like this, we have to take quick action to avoid even worse problems, even if they include decisions we don’t like,” Schwarzenegger said. Anyone else smell taxes coming?

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