Governor vetoes latest budget

Posted by Rick Orlov on January 7, 2009 5:42 AM | | Comments (0) |

Democratic leaders sent Gov. Arnold Schwarzenegger an $18 billion deficit-cutting package on Tuesday, a plan he quickly vetoed as anti-tax groups filed a lawsuit to stop it.AP in the Daily News.

The activity came amid the Legislature's third special session since the November election to deal with California's worsening budget deficit, projected at $42 billion over the next 18 months.

With Schwarzenegger's veto, time is running out for lawmakers to find a midyear fix. The state controller has warned that California will be so short of cash it will have to start issuing IOUs in February to vendors and taxpayers expecting refunds.

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Los Angeles Daily News City Hall reporter Rick Orlov writes about politics on the local, state and national stage.

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