Sunday, November 21, 2010

California: State Deficit Balloons to over $25 Billion

California faces a $25.4 billion budget deficit over the next 20 months - nearly double what some leading lawmakers predicted a week ago - and a solution to this newest crisis is expected to be far more difficult than in years past, the nonpartisan Legislative Analyst's Office said Wednesday.

Declining revenue and lawmakers' past reliance on one-time budget fixes have contributed to the recurring deficit, Mac Taylor, the legislative analyst, said.

For more, see California's Deficit Balloons to over $25 Billion by Wyatt Buchanan, November 11, 2010 at SFGate.

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