A coalition of 12 business groups propose a compromise 'workout plan' in an effort to avoid another California budget filled with 'gimmicks.' The old political hurdles remain, though.
Gov. Jerry Brown proposes a balanced California budget that has something 'for everyone to hate.' A plan to shift some programs to local governments will be a tough sell.
California budget woes are legendary. This year the state budget was 100 days late. Passage of Prop. 25 seeks to avoid future such crises by dropping a crippling two-thirds vote requirement.
To muddle through while the California budget crisis continues, state workers will be furloughed three days a month and the state will have to issue IOUs to pay bills. Still, there's little urgency in Sacramento.
The California Senate race could hinge on perceptions of how Carly Fiorina and Barbara Boxer will approach the economy and job creation.
The annual California budget crisis led Gov. Arnold Schwarzenegger to declare a 'state of emergency' Wednesday. But the declaration is really a ploy to pressure unions, experts say.
A new report warns that Silicon Valley's status as a center of economic growth and innovation is in danger. Silicon Valley has lost 90,000 jobs since 2008, and venture capital funding has plunged.
As a deal stalled over school funding cuts, warnings sounded about rising state debt and falling bond ratings.
Major banks say they won't honor IOUs that the state has issued. That could increase pressure on lawmakers – but it might not be the decisive factor.