Always a good time when
California has fiscal problems.
Dec. 14 (Bloomberg) -- California Governor Arnold Schwarzenegger will declare a state of fiscal emergency under never-before-used rules that would force lawmakers into a special session to address a $14 billion deficit.
The governor, touring a hospital in Long Beach, said he will declare the emergency in January when lawmakers return from recess. Under the action, the Legislature would have 45 days to find ways to plug the shortfall. If they fail to find a solution in that time, they are barred from doing any other legislative work or adjourn until they do.
