:)
Just kidding.....I thinkSchwarzenegger Seeks New Cuts to Close Budget Deficit (Update1)
By Michael B. Marois and William Selway
May 14 (
Bloomberg) -- California Governor Arnold Schwarzenegger proposed a new round of budget cuts, including eliminating the state’s main welfare program for families, to close a $19.1 billion budget gap for the year starting July 1.
The $83.4 billion plan calls for $12.4 billion in spending reductions, $3.4 billion in additional federal aid and $3.4 billion in fund shifts, fees and assessments, according to the governor’s budget. This year’s budget was $86.4 billion.
“California no longer has low-hanging fruit, in fact we no longer have any medium-handing fruit nor any high-hanging fruit,” Schwarzenegger said. “We have to take the ladder away and shake the whole tree.”
The Republican’s revisions come four months after his first draft of a 2011 spending plan, which stalled in the Democrat-led Legislature. Schwarzenegger has vowed not to raise taxes, forcing him to rely on deeper cuts.
The proposals include dismantling the state’s main welfare program for families, known as CalWorks, as well as reducing subsidies for county-level mental health programs and in-home care for the elderly and the disabled. ...........(more)
The complete piece is at:
http://www.bloomberg.com/apps/news?pid=20601087&sid=am_mFa9lSatY&pos=8