Deficit Balloons-- Democrats Promise December Vote to Fix It

Share |
(Sacramento, CA)
Thursday, December 11, 2008

Assembly Speaker Karen Bass says she’s prepared to do what it takes to get the Republican votes needed for a budget plan.  She says that includes locking lawmakers in the Assembly chambers for a vote if necessary.

“We might need to exert a little pressure if we need to hold folks in for a while and let them come to their senses...”

The Governor’s Finance Director says the budget deficit now tops 41 billion dollars—that’s through June of 2010.  Schwarzenegger announced this week the current fiscal year deficit has grown to nearly 15 billion dollars.  He urged lawmakers to act quickly —as the state will run out of cash within the next few months.  Meanwhile Republican Senate Leader Dave Cogdill expressed his displeasure with recent meetings with the Governor—saying they’re full of leaks.  He says talks will be more productive among the four top lawmakers.

“Any resolution of this that’s going to be negotiated will result from efforts with the Big Four because I just don’t see this process as being helpful or productive.”
Both the Governor and Democrats have proposed plans to raise taxes to address the budget shortfall. But Republicans have long opposed tax increases—and say it’s not the thing to do in this economy.