Schwarzenegger says he'll veto Democrats' plan for balancing budget

Miscellaneous Current Events
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"Reporting from Sacramento – Gov. Arnold Schwarzenegger told the leaders of the Assembly and Senate on Wednesday to scrap their plan to raise taxes to help close the state’s budget deficit, but the two Democrats insisted they would move ahead next week with a vote of the full Legislature.

With less than six weeks until the state faces insolvency, the governor appeared outside his Capitol office after a meeting with the lawmakers, promising to veto the plan completed Tuesday by a joint legislative committee if it reaches his desk…"

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As long as the spending continues, California can not solve their budget problems. They can take loans or raise taxes as much as they want and it will only hurt the tax payers, some of whom will leave, thus draining the tax base even more causing more need for tax raises or loans. So the governator and legislators are in an infinite loop of gutlessness.

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File for bankruptcy! I got first dibs on Pismo beach!