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California's crisis continues while Governor Arnold Schwarzenegger and legislative leaders inch slowly toward agreement on the deep cuts necessary to close the state's massive $26 billion budget shortfall. Now, even as California continues to pay its bills with IOUs, the University of California, the nation's leading public university, is being forced to cut its budget by $813 million - or 20%. It is highly unlikely that these cuts will be reduced by a budget agreement in Sacramento...

Author: /time Magazine | Title: California's Crisis Hits Its Prized Universities | 7/18/2009 | See Source »

...Klein, Arnold • paternity of Michael Jackson's children is conditionally denied by • question after question goes unasked to by pathetic interviewer Larry King • subpoena for Michael Jackson's medical records is served...

Author: /time Magazine | Title: This Preposterous Week! Paul Slansky's News Index | 7/10/2009 | See Source »

...sorts of pepper is flying out of the postmortem-Michael rumor mill: that Jackson dermatologist Arnold Klein is the father of two of the children, that Rowe was only the surrogate mother of those kids. Even if any of this is true, says Scott Altman, a law professor at USC, "that's probably going to be irrelevant. In California, a child born during a marriage is strongly presumed to be the child of the husband and the wife. And if Rowe has been visiting pretty regularly - if they think of her as a mother and have an ongoing personal, intimate...

Author: /time Magazine | Title: The Battle Over Michael Jackson's Legacy | 7/2/2009 | See Source »

With budget negotiations stalled, a cash crisis looming and its fiscal crisis deepening, California today will begin issuing IOUs - formally called registered warrants - to tens of thousands of businesses and individuals to whom the state owes money. Gov. Arnold Schwarzenegger on Wednesday declared a fiscal emergency and ordered a third unpaid furlough day each month for 235,000 state employees. California's fiscal crisis has been years in the making and will not be easy to fix. But is there a solution...

Author: /time Magazine | Title: California's Budget Crisis: Is There a Way Out? | 7/2/2009 | See Source »

...because it had a surplus," says David Menefee-Libey, a political scientist at Pomona College. "But because the state is now responsible for funding local government and school districts the demands on state resources became too great. The second strategy followed by [Governors Gray] Davis and [Arnold] Schwarzenegger has been to finesse the fiscal crisis by using budget gimmicks and by borrowing to bridge the yearly budget shortfall. Now both options are exhausted...

Author: /time Magazine | Title: How California's Fiscal Woes Began: A Crisis 30 Years in the Making | 7/1/2009 | See Source »

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