Reuters: California faces "insolvency" amid budget woes: government

[NaDiNe]

California faces "insolvency" amid budget woes: government
      

SACRAMENTO, California (Reuters) - California Gov. Arnold Schwarzenegger said on Thursday the state "faces insolvency within weeks" and he will put new policies on hold until it there is a deal to close the budget gap, which for the combined current and next fiscal years will top $40 billion.<div class="feedflare">
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