Word: wednesdays
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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...
...gaping political divisions over what to do about it. Democratic lawmakers have proposed cutting billions of dollars from the state's safety net and educational system to balance the budget. Governor Schwarzenegger says the cuts must go even deeper and joins legislative Republicans in refusing to raise taxes. On Wednesday, Schwarzenegger said, "Haven't we promised too much the last couple of decades?" (See pictures of the recession...
...more over the next decade, Barack Obama seems to be opening the door a little wider to an approach he soundly rejected when John McCain proposed it during last year's presidential campaign: taxing the health benefits that employers provide their workers. "This argument has evolved," he said Wednesday at a town-hall meeting on health care in Annandale, Va. And it appears that Obama...
...energy consultancy Wood Mackenzie noted on Wednesday, for oil companies, Iraq has "more risk on the downside than opportunity for the upside...
...neon lights are no longer flashing; the roulette wheels have spun their last turn. Casinos across Russia closed their doors Wednesday as a sweeping ban on gambling went into effect, less than a week after a similar ban hit neighboring Ukraine. Lawmakers in both countries say the actions were necessary to bring under control spiraling addiction and a notoriously shady business. But critics say the moves will leave hundreds of thousands out of work and force the industry underground...