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Feds Reject Plea for Calif. Bailout

Aid ruled out for now as state warns of fiscal meltdown

By Rob Quinn,  Newser Staff

Posted Jun 16, 2009 6:09 AM CDT

(Newser) – The federal government has rejected pleas for emergency aid from top California officials, reports the Washington Post. State officials warn that its budget crisis is approaching the point of a "fiscal meltdown" that will cause massive cuts and deepen the state's recession. But the...   Read full story »

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