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California's Budget Deficit Widens; Governor Calls Special Legislative Session.
Knight Ridder/Tribune Business News, November, 2002
The Orange County Register, Calif. Knight Ridder/Tribune Business News
Nov. 22--Gov. Gray Davis said California's budget deficit is quickly eclipsing the $21.1 billion announced just days ago, and on Thursday he called the Legislature into a rare, pre-Christmas special session to decide on at least $5 billion in immediate cuts.
While Davis would not say how much the deficit has grown, Senate Leader John Burton said it has now reached $25 billion, which amounts to about one dollar out of every four the state would ordinarily spend.
"It's necessary to take immediate action," Davis said after a 25-minute telephone conference with the Legislature's four top leaders, including Burton. "We have a tall order in front of us."
The...
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