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FROM THIS EPISODE

Governor Schwarzenegger can’t get enough Republican Senators to approve a budget agreed to by the Democratic majority. We’ll hear a debate between Senators of both parties. Also, with foreclosure rates up 800% since last year, what’s happening to California’s real estate market?

Producers:
Karen Radziner

Reporter's Notebook Foreclosures are up but so is the need for housing 10 MIN, 21 SEC

From January to the end of March, mortgage foreclosures in California rose 800% as compared to the first three months of last year. Countrywide Financial, the nation’s largest mortgage lender, says delinquencies are up even among customers with good credit.

Guests:
Lloyd Segal, Mortgage banker
Jack Kyser, Founding Economist, LAEDC's Kyser Center for Economic Research

Main Topic Intransigent Republicans Attack Welfare

The Assembly and Senate were supposed to pass a state budget almost a month ago. Last week the Assembly passed a $145 Billion dollar spending plan and left on vacation. Republicans in the Senate insisted the Assembly version was not balanced, and they refused to go along. The budget requires a two-thirds vote so they can hold it up, even though the Democrats are in the majority.  Today the Republican Senators got specific about $840 Million dollars in cuts including a $300 Million cut from welfare. 

Guests:
George Runner, California State Board of Equalization
Denise Moreno Ducheny, Democratic State Senator

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