The $15 Billion Hole in Gov. Schwarzenegger's New Budget

Governor Schwarzenegger revised his budget proposals today in light of the $15 billion deficit facing the state now that this year's income taxes have been collected. He no longer wants to cut school programs or close state parks, but he would make it harder for poor families to qualify for health and welfare. To avoid the cuts, he's proposed to borrow against the state lottery. If voters turn that down in November, he'd raise the sales tax by a penny.