“As bitter as the words are in my mouth, we face additional cuts. We know what that means. We know the pain it entails. I mean, what can we say at this point except the truth? That we have no choice."
But Schwarzenegger remained optimistic about the state’s prospects.
He says pulling the nation's most populous state out of a deep fiscal mess will require teamwork to enact tough choices on tax changes, pension reform and strengthening the economy.
Schwarzenegger says the top priority is to create jobs, and he’s proposing a plan to create one-hundred thousand of them.