CaliforniaBudget

Californians like me will see less money in their next paycheck because, like it or not, we're being forced to give an interest-free loan to the financial basket-case of a state we live in. As of November 1, California is withholding 10% more in income taxes from residents' paychecks. The move is...

Got a good idea for how to pull California back from the brink of financial failure? Twitter it to Arnold.Last month, Governor Schwarzenegger visited Twitter's HQ for a live chat and announced the launch of MyIdea4CA.com, a state Web site that lets Twitter users submit their ideas for improving...

Looks like even the Terminator can't help them right now. A whopping $24 billion budget deficit and a legal stalemate between California's Democratic and Republican lawmakers over whether or not to raise taxes to balance the budget has led to this: Starting tomorrow, instead of paying its bills,...

In the 1990s, I spent five years living in Los Angeles, and I loved it. There's something very special, and almost mythical, about California.But that's easy for me to say. I no longer live there. I just received a phone call from one of my friends, who has lived in Los Angeles since the 1960s, and...

Things are about to get a lot hotter in California. In response to political deadlock over its $42 billion deficit, State Controller John Chiang announced today that he would suspend some $3.7 billion in payments, including tax refunds, starting Feb. 1."Let me make this point," Chiang told...