California Budget Impasse Breaks Record
SACRAMENTO (AP) -- California has broken its record for the longest budget impasse as Gov. Arnold Schwarzenegger holds talks with state lawmakers.
Friday will be the 79th day the state has gone without a resolution to its $19 billion deficit. It is the longest period ever that the state Legislature has gone without approving a new state spending plan.
The last record was set two years ago at 78 days.
Schwarzenegger met with legislative leaders for more than 2 hours Thursday, and talks are scheduled to resume Friday.
The governor and lawmakers disagree on the amount of cuts to make and whether to adopt new taxes as the economic downturn erodes state revenues.
(© CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed. The Associated Press contributed to this report.)
