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Another Budget Shortfall Impacts Politics and Schools
Governor Schwarzenegger and the legislature will ask voters to uphold their $42 billion budget deal, but now there’s a new, $8 billion shortfall. How will that impact the May election and continued employment of 26,000 teachers? Also, USC, UCLA and CSUN all head to the NCAA Tourney. On our rebroadcast of today’s To the Point, what easy credit, reduced borrowing limits and higher interest rates mean for consumers and the economy.
By Warren Olney • • 1h 0m ListenCredit card companies made big money by extending easy credit, but now they’re reducing borrowing limits, jacking up interest rates and even closing accounts. Also, USC, UCLA and CSUN are all heading to the NCAA Tourney. On our rebroadcast of today’s To the Point, we consider what that means for consumers and the economy. Also, California’s budget problems are not over, even if voters uphold last month’s $42 billion compromise. Will a new, $8 billion shortfall lead to thousands of teachers being laid off after all?
In this episode
3 storiesThe Credit Card Economy Comes Home to Roost
The credit card industry has extended $5 trillion in available credit.” So far, only $800 billion is currently owed. But, as more and more people look to credit cards as a way to coping in tough times, “easy credit” is becoming a thing of the past. What happens when an industry that extends “easy credit” in good times has to contract?
Read the story26 minAnother Budget Shortfall Impacts Politics and Schools
In May, California voters will be asked to ratify the $42 billion tax increase and spending-cut program worked out by Governor Schwarzenegger and squabbling legislators of both parties. But last week, the Legislative Analyst dropped something awful into the punch bowl.
Read the story20 minUSC, UCLA and CSUN All Headed to NCAA Tourney
UCLA , USC and Cal State University Northridge are all on their way to the NCAA Men’s Basketball Tournament . Ramona Shelburne covers sports for the LA Daily News .
Read the story5 min
