California "Headed Off The Fiscal Rails": NY Times

California "Headed Off The Fiscal Rails": NY Times

The state of California - its deficits ballooning, its lawmakers intransigent and its governor apparently free of allies or influence - appears headed off the fiscal rails.

Since the fall, when lawmakers began trying to attack the gaps in the $143 billion budget that their earlier plan had not addressed, the state has fallen into deeper financial straits, with more bad news coming daily from Sacramento. The state, nearly out of cash, has laid off scores of workers and put hundreds more on unpaid furloughs. It has stopped paying counties and issuing income tax refunds and halted thousands of infrastructure projects.

Popular in the Community

Close

What's Hot