कैलिफ़ोर्निया बजट घाटा
Arnold Schwarzenegger: "Our state faces a looming cash crisis. This situation leaves me with no easy choices, choices, only choices with consequences, consequences that will have a direct impact on California families. And so I have a responsibility to make sure that our state has enough money to pay its bills."
The main problem is that some six weeks after California's new fiscal year began, state legislators have failed to agree a budget, which means California, with one of the largest economies in the world, has no way to pay for contractors, for many of the services it provides and, crucially, no plans for how to make up that huge budget shortfall. The Governor's move is designed to put pressure on politicians to resolve the crisis.
In fact some 30 American states face budget deficits, caused by rising costs and falling revenues in a slumping economy. But California's is by far the largest.
Rajesh Mirchandani, BBC