San Francisco - California Governor Arnold Schwarzenegger warned Thursday of a "financial Armageddon" in the most populous US state and the world's eighth largest economy.
The warning came as lawmakers continue to stonewall his attempts to make up for plummeting revenues by cutting services and raising taxes. The state's budget director Michael Genest warned that California now faces a deficit of 42 billion dollars over the next two fiscal years. That's up from a prior 28-billion-dollar deficit projection as revenues continue to plummet.
San Francisco - Saying that California was facing a "fiscal disaster," Governor Arnold Schwarzenegger on Monday declared a "fiscal emergency" in the richest and most popular state in the US.
The declaration allowed the former movie star to force a special session of the legislature to address the California's massive projected budget deficit - 11.2 billion dollars this year, and as much as 28 billion billion dollars over the next 18 months.
LOS ANGELES, Dec. 1 - Gov. Arnold Schwarzenegger, with California facing an $11.2 billion deficit, called Monday for another special legislative session to deal with the crisis.
"Without immediate action, our state is headed for a fiscal disaster," Schwarzenegger said while declaring a fiscal emergency at a news conference in Los Angeles. He said the state could run out of cash to pay its bills by late February, the San Francisco Chronicle reported.
Los Angeles - California Governor Arnold Schwarzenegger says he is ready to take a job at the White House if president-elect Barack Obama feels he can be of service.
Schwarzenegger told Fox News Thursday that the two had talked earlier in the week in the wake of the devastating wildfires in California, when the dialogue turned to body-building and maybe a future job.
Los Angeles - California Governor Arnold Schwarzenegger declared a state of emergency as more than 1,000 firefighters battled a raging wildfire near the celebrity hideaway of Montecito on Friday.
More than 100 houses had been destroyed by the wind-driven flames overnight and fire chiefs were working to contain the damage before strong winds picked up again Friday night.
San Francisco - California Governor Arnold Schwarzenegger warned Thursday of a "financial Armageddon" in the most populous US state and the world's eighth largest economy.
San Francisco - Saying that California was facing a "fiscal disaster," Governor Arnold Schwarzenegger on Monday declared a "fiscal emergency" in the richest and most popular state in the US.
LOS ANGELES, Dec. 1 - Gov. Arnold Schwarzenegger, with California facing an $11.2 billion deficit, called Monday for another special legislative session to deal with the crisis.
Los Angeles - California Governor Arnold Schwarzenegger says he is ready to take a job at the White House if president-elect Barack Obama feels he can be of service.
Los Angeles - California Governor Arnold Schwarzenegger declared a state of emergency as more than 1,000 firefighters battled a raging wildfire near the celebrity hideaway of Montecito on Friday.
