In addition to proposing spending cuts in education and the state's Medicare program, Schwarzenegger has put forward a plan to furlough state workers one day every month and eliminate two paid holidays—a move that would require government employees to take a 5 percent pay cut in exchange for their extra day off, saving the state $320 million through next summer.
If no cuts are made or new sources of funding found, the state's budget gap is projected to grow to nearly $30 billion over the next year and a half. Legislators are scheduled to go into what is likely to be their last session this afternoon. Should they fail to reach a budget agreement, the new legislature takes office on the first day of December.
Reader Comments Read all comments (5)
slinky of AZ 12:13AM December 21, 2008
Burn Your Bridges of CA 1:14AM December 17, 2008
of 1:10PM November 26, 2008