The governor will declare a fiscal emergency and bring in newly sworn state legislators early next month to start dealing with the budget issues that couldn't or wouldn't be dealt with in the previous legislature. Schwarzenegger, who still has another couple of months in his term, made his move a day after the state's chief budget analyst said the shortfall had grown to $25.4 billion - $6.1 billion of that in the current fiscal year. (LAT)
More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAXSocal housing market going nowhere fast
Amazon keeps pushing for faster L.A. delivery
Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
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*
Should Twitter be valued at $18 billion?
Recent stories:
Letter from Down Under: Welcome to the HomogenoceneOne last Florida photo
Signs of Saturday: No refund
'I Am Woman,' hear them roar
Bobcat crossing
New at LA Observed
On the Politics Page
Go to Politics
Sign up for daily email from LA Observed