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10-10-2009, 04:06 PM #1
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California Budget Is Already in the Red 10 Weeks After Passa
California Budget Is Already in the Red 10 Weeks After Passage
By William Selway and Michael B. Marois
Oct. 10 (Bloomberg) -- California Governor Arnold Schwarzenegger will know within a month whether a $1.1 billion drop in revenue collections is part of a growing budget shortfall or an isolated event, his budget spokesman said.
Revenue in the three months ended Sept. 30 was 5.3 percent less than assumed in the $85 billion annual budget, state controller John Chiang reported yesterday. Income tax receipts led the gap, as unemployment reached 12.2 percent in August.
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05-18-2024, 07:35 AM in General Discussion