TBH News: California heading 'toward financial armageddon'

Courtesy SF Chronicle

California is heading 'toward financial Armageddon' according to Governor Arnold Schwarzenegger. During a press conference Wednesday, he said the State's budget deficit is now $15 billion for the current year.

Criticizing the Legislature for failure to address the crisis, he projects the budget shortfall will be $40 billion.

Governor's Remarks

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