California in State of Fiscal Emergency Due to Budget Deficit

The State of California is now under the state of fiscal emergency as the governor and State legislators failed to address the mounting budget deficit brought about by dwindling revenues due to continuing economic downturn. Governor Arnold Schwarzenegger has declared fiscal emergency in California following the failure of the state legislature to address the lingering budget deficit of the US largest State. In the proclamation declaring the emergency measure, the governor also issued an executive order requiring several state offices dispensing services ranging from issuance of driver’s licenses to building permits to close on the first, second and third Friday of each month until June 2010. Employees of the affected offices will not be compensated during the days when they don’t report for work. Inquirer net reports: The... [read full story]                    

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