Is California Facing a Financial Armageddon?
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Governor Arnold Schwarzenegger has lost another round in his ongoing battle with Republicans, Democrats…and the voters of California. On our rebroadcast of today's To the Point, we look at yesterday's crushing election results and the bleak future of a state with a deficit of $21 billion. In the aftermath of yesterday's election, Governor Schwarzenegger says he'll "go all out" to cut government spending. On Which Way LA?, we talk with two state senators, Republican and Democrat, about what's next in Sacramento. Which programs are likely to be cut first? What can be saved? Will the political parties find greater consensus now than they did before the election?
Banner image: Voters cast their ballots near caution tape and racks of firefighting hoses at Fire Station 38 in Pasadena, as people go to the polls for a special election called by Gov. Arnold Schwarzenegger and lawmakers to decide on statewide budget-balancing ballot propositions. Photo: David McNew/Getty Images
A California Drama without a Hollywood Ending ()
Yesterday, while voters were trashing his ballot measures, the Governor was at the Obama White House for a photo-op on the federal adoption of California’s mileage standards. This morning, he was still in Washington. But Schwarzenegger's favorability rating has plunged into the low 30’s and, after yesterday’s election, all he can do is pick up the pieces. Five ballot measures suffered resounding defeat, leaving the state with a deficit of $21 billion -- larger than the entire budgets of most other states.
- Carla Marinucci: Political Writer, San Francisco Chronicle, @cmarinucci
- Kevin Starr: Librarian Emeritus, State of California
- Joe Mathews: Irvine Senior Fellow, New America Foundation, @joemmathews
- Bruce Cain: Professor of Political Science, University of California Berkeley
- Bill Lockyer: Treasurer, State of California
Is California Facing a Financial Armageddon? ()
Following yesterday’s special election, Governor Schwarzenegger was scheduled back in Sacramento this afternoon to talk to legislative leaders about what to do now. State Treasurer Bill Lockyer says the state will need to borrow to pay its bills. To establish credit, it will need a new budget no later than mid-July. We speak with State Senators Jeff Denham, Republican from the Central Valley, and Democrat Mark Leno of San Francisco, who sits on the Budget Committee.
- Mark Leno: California State Senator (D-San Francisco, San Rafael)
- Allan Hoffenblum: former Political Director, California Republican Party
- Jeff Denham: California State Senator (R-Central Valley)
- Anthony York: Capitol Weekly, @AnthonyYorkLAT
Which Way L.A.? is made possible in part by the Ralph M. Parsons Foundation, the Nathan Cummings Foundation, and the John Randolph Haynes and Dora Haynes Foundation, which supports study and research into policy issues of the Los Angeles region.
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