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(Image from article: "California misses budget deadline, readies "IOUs"")

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California Budget Defi... Topics

Calif breaking record on longest budget impasse

Gov. Arnold Schwarzenegger and state lawmakers ended talks Thursday night without reaching a deal on how to close California's $19 billion deficit, breaking a state record for the longest budget impasse.

California Reaches Budget Deal, With Billions Cut

California lawmakers finally sealed a deal with the governor on a plan to close a $26 billion budget gap.

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California misses budget deadline, readies "IOUs"

California's lawmakers failed to agree on a balanced budget by the start of its new fiscal year on Wednesday morning, clearing the way to suspend payments owed to the state's vendors and local agencies, who instead will get "IOU" notes promising payment.

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