California declares fiscal emergency over budget (Reuters)

July 2nd, 2009 | by |

Two unemployed men who live on the street in Los Angeles, seen on June 19. California Governor Arnold Schwarzenegger formally declared a fiscal emergency in the largest US state and called state legislators back into a special session to close a budget deficit expected to reach 24 billion dollars over the next two years.(AFP/File/Mark Ralston)Reuters – California Gov. Arnold Schwarzenegger declared a fiscal emergency on Wednesday, forcing lawmakers to tackle a budget gap that has raised the prospect of drastic measures to keep the state working.

Source:California declares fiscal emergency over budget
(Reuters)

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