Jan 8, 2009 1:36 pm US/Pacific
Legislative Analyst: Lawmakers Must Act Now
SACRAMENTO (CBS13) ―
It's a start, but not good enough.
Today, the non-partisan Legislative Analyst's Office says Governor Schwarzenegger's budget proposal is a 'good faith effort' to close the $40 billion dollar budget gap, but it relies too heavily on borrowing and possible lottery money.
Mac Taylor, the Legislative Analyst looked into the state's dire fiscal situation. On Tuesday, the governor vetoed an $18 billion partial solution democrats passed weeks ago.
Today, the Legislative Analys's office released its
Overview of the Governor's Budget and reiterated their view that "the budget shortfall is too great to close on only one side of the ledger—revenues must be increased and expenditures must be decreased." Taylor said there is not easy path to solve the crisis, but it must be addressed....and soon.
"The legislature must act immediately to address the budgetary impasse situation that has the state on the edge of fiscal disaster. I strongly urge the legislature to act as quickly as possible," said Taylor at a press conference in Sacramento today.
It's been reported that without an immediate solution to the 40 billion dollar budget deficit, the state could run out of cash by next month.
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