Day 15: Fiscal year 2009-2010

Glenbrook, Nevada, Lake Tahoe

4:58 PM, Pacific Standard Time 


No deal was struck between the governor and the Legislature on closing an estimated $26 billion hole in the budget for the fiscal year tha began July 1.


Gov. Arnold Schwarzenegger and legislators met privately late into the evening July 14 and reconvened late afternoon July 15.  “They continue to make progress in making the cuts and reforms necessary to balance the budget but have significant work left to do,” says Aaron McLear, the governor’s press secretary.


On July 14, Moody’s downgraded the rating for California’s general obligation debt. The report in the Los Angeles Times


Weather still glorious. Tables could be kinder.



Filed under: Budget and Economy

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