The Crisis Isn't California's Alone

It's been a tough week for the Terminator everywhere but the box office. On May 19, California voters solidly rejected a series of ballot initiatives that would have provided Governor Arnold Schwarzenegger with short-term fixes to help patch the state's $21 billion budget deficit. Then, while in Washington, Schwarzenegger got the cold shoulder from Treasury Secretary Timothy Geithner and legislative leaders when he asked the federal government to help guarantee some of the state's future borrowings. Back in California on May 21, Schwarzenegger said he'd gotten the message and was asking his budget team to go back to the cutting board. "The people want Sacramento to live within its means," he said.

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