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California's Deficit Explodes To $16 Billion, Threatening 'Severe' Cuts Or New Taxes

Business Insider
Sunday, 13 May 2012

California's Deficit Explodes To $16 Billion, Threatening 'Severe' Cuts Or New TaxesSACRAMENTO, Calif. (AP) — California's budget deficit has swelled to a projected $16 billion — much larger than had been predicted just months ago — and will force severe cuts to schools and public safety if voters fail to approve tax increases in November, Gov. Jerry Brown said Saturday.

The Democratic governor said the...
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Source: Associated Press - on May 15, 2012

News video: More Cuts Eyed As California Deficit Swells

More Cuts Eyed As California Deficit Swells

California Gov. Jerry Brown proposed more than $8 billion in cuts Monday to close a widening state budget deficit. In addition to making cuts to many state services, he wants state workers to take a 5 percent pay cut. (May 14)

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