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Gov. Arnold Schwarzenegger finally signed the budget but he cut hundreds of millions of dollars in state spending that will impact parks, child welfare services, and AIDS prevention and treatment. Last week's budget package fell short by $1.1 billion, after lawmakers blocked a raid on local transportation funds and new oil drilling off the coast of Santa Barbara. "That effectively wiped out the state's reserve," said Schwarzenegger spokesman Aaron McLear. (LAT)
More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAXSocal housing market going nowhere fast
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Another rugged quarter for Tribune Co. papers
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Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
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Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.