Schwarzenegger: This year's budget gap may hit $7 billion
Original post made by It's happening again, Another Pleasanton neighborhood, on Nov 10, 2009
"Gov. Arnold Schwarzenegger estimated Monday that California's budget will fall out of balance by $5 billion to $7 billion this fiscal year, on top of a $7.4 billion gap already projected for 2010-11. If true, state leaders would confront at least a $12.4 billion to $14.4 billion problem when Schwarzenegger releases his budget in January."
"He emphasized deep spending cuts as a budget solution but did not mention tax increases."