Some Calif. Workers Rake In 6-Figure OT

Outgoing gov must convince Calif. voters to endorse budget fixes

(NEWSER) - Deep into Arnold Schwarzenegger's second term, the novelty of holding political office has given way to the hard realities of governing, the New York Times reports. In the eyes of his constituents, too, the Governator’s celebrity sheen has faded, enough that Schwarzenegger is worried about the passage of several ballot initiatives he has proposed to fill critical gaps in California’s budget. More»

Gov defends stance amid standoff

(NEWSER) - Tensions are soaring in California as Gov. Arnold Schwarzenegger faces off against Democratic lawmakers in the state’s budget crisis. But the governator is keeping calm as he defends his position, the Financial Times reports. He’s calling for welfare reform before he’ll sign off on a budget, but Dems say now’s not the time. “If you can’t get them to cut down the costs of government when the state is facing such a financial crisis, then it’s never going to happen,” said Schwarzenegger. More»

Says he'd like office to be 'glass house'

(NEWSER) - California Gov. Arnold Schwarzenegger wants another starring role onscreen—and he's looking to bring California’s legislators with him. The governator wants budget meetings televised or streamed online to show the public what gives, reports the Los Angeles Times. “A debate in front of the people” would “expose the problems and let everyone answer them,” he said. More»

(NEWSER) - Thousands of Californians still waiting for their state tax returns will open their mail to find an IOU instead of a check. Unable to close a gargantuan budget deficit, the state began printing a $53 million batch of IOUs this afternoon, the Los Angeles Times reports. Some banks have agreed to accept them, at least for the time being. More»

(NEWSER) - California’s finances are so dire that the state controller says he’s going to have to start doling out IOUs to creditors soon, reports the Los Angeles Times. Likening the situation to the Great Depression, John Chiang says he’ll have to issue IOUs to social-service agencies, private contractors, vendors, and others starting July 2 unless Gov. Schwarzenegger and state lawmakers close a $24 billion deficit. More»