Schwarzenegger to Release Budget With $1.7B of Deficit Bonds

Sakal, Rich
January 2005
Bond Buyer;1/10/2005, Vol. 351 Issue 32046, p40
Trade Publication
The article reports that California Governor Arnold Schwarzenegger will release a fiscal 2006 budget proposal that calls for issuance of about US$1.7 billion in deficit bonds. While Schwarzenegger proposed several reforms in the state budget process, they are not reflected in the budget. A US$8 billion structural gap between general fund spending and revenue needs to be filled urgently.


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