March 03, 2004

California voters approve Schwarzenegger's plan to rescue budget

Californians overwhelmingly approved a plan Tuesday to borrow a record $15 billion to bail out the state budget, handing Gov. Arnold Schwarzenegger a crucial victory Tuesday in his bid to turn around the world's sixth-largest economy.

A companion measure that would require a balanced budget also easily passed. Both measures had to be approved for either to take effect.

Excellent news for Californians and for the country!
We should all see the economy pick up quite a bit when these measures kick in; the world's 5th largest economy being in the doldrums wasn't helping anyone!