All Entries Tagged With: "California Financial Meltdown"

California Nears Financial “Meltdown,” Schwarzenegger Threatens To Shut Down Government

California’s government is 50 days away from a financial “meltdown” if Governor Arnold Schwarzenegger and lawmakers fail to close the $24.3 billion budget gap. But Schwarzenegger would rather see the government screech to halt than agree to a high-interest loan. Controller John Chiang warned of the coming crisis Wednesday: Underscoring the severity of California’s cash [...]