The news from the Legislative Analyst's office this week about the budget deficit had two elements. The larger one was a projected 19 billion dollar shortfall for the next fiscal year. The more immediate problem is the six billion dollar deficit remaining in the current fiscal year.
Aaron McLear in the Governor's office says the Schwarzenegger administration ends on February 2nd so time is running out.
"He has always said we're going to spring through the finish line and if we have a deficit it just gets worse every day so he believes we need to act immediately to solve."
McLear says the state finance department must complete its own
assessment of the budget shortfall. He says it's unclear how the 6
billion dollar gap will be closed, but tax increases will not be a
part of the solution.
