Authoritative Source

The Governator

This article talks about how Schwarzenegger is pumped up about this new budget. He says, "It will boost public confidence in California, reassure the financial community and allow us to resume selling our bonds and rebuilding our state" He pretty mush is just trying to reassure the people of California that everything will be alright and not to panic. It shows the major stimulus and cuts in the budget and the reasons for them and how necessary the budget is to our state to continue to function.

Schwarzenegger: New budget is 'perfect medicine' for California

Part of the Article:

California Gov. Arnold Schwarzenegger said the budget package passed by state lawmakers early Thursday is "the perfect medicine for our ailing economy."

The measure, which awaits the governor's signature, is aimed at closing a $42 billion state deficit through tax increases, spending cuts, borrowing and increased government efficiency.

"It will boost public confidence in California, reassure the financial community and allow us to resume selling our bonds and rebuilding our state," Schwarzenegger said at a news conference at the Capitol in Sacramento, California.

The plan contains $14.9 billion in cuts, most of them from the state's most expensive budget items, primarily education, health and human services, the judiciary and state workers and employee compensation, Schwarzenegger said.

Schwarzenegger said all revenue increases are temporary. Among them are new and increased taxes on sales, vehicles and personal income. More revenue will be contributed by the state lottery.

The legislative measure also contains an economic stimulus package that includes plans to use public-private partnerships for state construction projects. That will save money and get projects done more quickly, Schwarzenegger said.

article from cnn.com: http://www.cnn.com/2009/POLITICS/02/19/state.budgets/index.html