1.0link147608<![CDATA[Schwarzenegger Declares Emergency: California "Is Headed For A Fiscal Disaster"]]>http://www.huffingtonpost.com/2008/12/01/schwarzenegger-declares-e_n_147608.htmlSACRAMENTO, Calif. — Gov. Arnold Schwarzenegger declared a fiscal emergency Monday and called lawmakers into a special session to address California's $11.2 billion deficit.
The state's revenue gap is expected to hit $28 billion over the next 19 months without bold action. The emergency declaration authorizes the governor and lawmakers to change the existing budget within 45 days.