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Politics : Formerly About Advanced Micro Devices

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To: Tenchusatsu who wrote (456802)	2/16/2009 2:56:19 AM
From: tejek	Read Replies (2) of 1575760

It seems the Dems are not your only problem in CA. UPDATE 1-California lawmakers fail to pass budget Mon Feb 16, 2009 6:03am GMT LOS ANGELES, Feb 15 (Reuters) - California lawmakers narrowly failed to pass a $40 billion budget on Sunday, casting doubt on Gov. Arnold Schwarzenegger's ability to prevent the nation's most populous state from sinking into the abyss. Bleary-eyed senators in the state capital of Sacramento adjourned for the day after all-night horse-trading failed to generate the one Republican vote needed to ensure passage of the bitter mix of tax hikes and spending cuts. California, the world's eighth-biggest economy, is constitutionally barred from running a budget deficit, and has begun forcing state employees to take unpaid leave. State spending on infrastructure work has also largely wound down, adding to the drag on the broader U.S. economy, which appears to be facing a long and deep recession. Budget negotiations will resume on Monday, said senate leader Darrell Steinberg, after taking pity on lawmakers who had been confined to their offices by party leaders. In a surprise development, the budget plan collapsed about 5 a.m. on Sunday after one of Schwarzenegger's fellow Republicans withdrew his support. The bill includes $14.4 billion in new taxes and $15.1 billion in spending cuts in a bid to close a $42 billion budget deficit the state's government faces over the next 17 months. Residents of the "Golden State" face a 1 cent sales tax rise, steeper income and gasoline taxes and higher vehicle licensing fees. Some aspects face voter approval in May. Continued... 1 \| 2 Next uk.reuters.com

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