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Governor's last stand: his way or IOUs - Los Angeles Times

World: Schwarzenegger's high-stakes strategy could close the budget abyss or cause a meltdown of state government.

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Gifted submitted 2009/6/28 10:52, published 2009/6/28 10:52 | 477 views
Tags: Budget, Government, Schwarzenegger, high-stakes, strategy, meltdown, state

http://www.latimes.com/news/local/la-me-arnold28-2009jun28,0,2038455.story

Reporting from Sacramento -- Gov. Arnold Schwarzenegger, seeking to conquer what could be the last budget crisis of his tenure, is engaged in a high-stakes negotiating strategy with lawmakers that could force him to preside over a meltdown of state government.

As legislators have scrambled to stop the state from postponing payment of its bills and issuing IOUs starting next week, the governor has vowed to veto any measure that fails to close the state's entire $24-billion deficit.

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