Budget plan announced in Sacramento

Gov. Arnold Schwarzenegger announced Friday that a budget for the state of California has finally been settled upon and an end to the longest budget stalemate is impending. After operating without a settled spending plan since July 1, Schwarzenegger made the announcement following of hours of deliberation at the governor’s office on how to close the $19.1-billion dollar deficit. According to the Los Angeles Times, lawmakers have promised to release the details of the new budget as early as next Wednesday and a possible full vote of the Legislature on Thursday. The new budget is said to please Democrats by not raising taxes and to keep the state’s welfare system operating favored by Republicans, per the New York Times. USA Today also reports that Senate Minority Leader Dennis Hollingsworth is confidant Republican voters will support to pass the budget on a two-thirds vote, stating "it's a compromise budget on all sides”.

Schwarzenegger stands confidently, knowing he has finally settled on a budget best fit for the state of California. (Photo Credit: Genaro Molina, LA Times)

Posted by Joseph Apodaca