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Legislature Meeting Again In Hopes Of Budget Solution

Sacramento, CA — The California Legislature is meeting again today in hopes of resolving the state’s $24 billion budget deficit.

But according to the Associated Press, Democratic and Republican lawmakers remain at significant odds with less than a week before the beginning of the new fiscal year.

Officials say that the state’s financial outlook worsened yesterday after Senate Republicans blocked a legislative attempt to avoid having the state issue IOUs through a complicated cash-saving maneuver.

Governor Schwarzenegger said the plan did not fix the overall budget problem and likely would have been vetoed anyway.

Written by bjhansen@mlode.com.