- Former Cape cop faces stealing-by-deceit charge (6/18/17)3
- Jackson scores high in survey of residents; better streets, Aldi are high priorities (6/20/17)4
- Jackson woman accused of trying to hit another with her truck (6/15/17)
- Marble Hill mayor hires city manager without board approval (6/21/17)2
- Police search for two suspects in abduction, robbery case; victim found unharmed in Scott County field (6/16/17)1
- Cape man faces charges of victim tampering (6/18/17)
- Racial disparity of traffic stops inches upward in Cape (6/15/17)6
- Police: Cape abduction may have ties to Georgia homicide (6/18/17)5
- 3 drown in Southeast Missouri in three days (6/16/17)
- Two men accused of selling meth to undercover cop (6/22/17)
California fiscal deadlock over as Schwarzenegger signs budget
SACRAMENTO -- Gov. Arnold Schwarzenegger signed a $105 billion state budget into law Saturday, noting that no new taxes were imposed while balancing spending with income.
The Republican governor failed to mention that $7 billion in loans and one-time savings are embedded in the spending plan.
After a nearly one-month deadlock, the California Legislature gave final approval on the budget this week. Although Democrats and Republicans found much to complain about in the spending plan, they largely agreed in the end that it represented a good compromise.
Some critics, however, say the plan may lead to more problems because of funding agreements the governor and the legislature have made with groups including schools and local governments.
Still, an upbeat Schwarzenegger told a crowd of tourists and supporters Saturday that he was proud of the compromise.
However, early indications are that workers' compensation insurance rates have not dropped as he had predicted.
The budget closes a deficit estimated in January at $17 billion without raising taxes.
Critics said the loans will only prolong the fiscal pain.
"The governor has really boxed us in," said state Treasurer Phil Angelides, a Democrat and potential rival of Schwarzenegger in 2006. "We will come out of this budget with $7 billion in new debt but in two years the bill really becomes due."