Summary of my Authoritative Source

A video of Governor Arnold Schwarzenegger signing and discussing the importance of California's 2009-10 state budget.


California is currently in a $42 billion deficit and needs a new budget to help solve its problems and spend its money effectively. This new budget is made to reduce spending, increase efficiency, boost revenue, and create jobs. Schwarzenegger made $14.9 billion in spending reductions and replaced some general funding with federal funds. “Higher education will receive federal funding to replace general funds in the amount of $255 million each to the University of California and California State University systems.” “The budget includes temporary revenue increases totaling $12.5 billion through a one cent increase in the state sales tax, an increase in the vehicle license fee to one percent and an increase in the personal income tax.” “With the budget asking Californians to pay more in taxes and also reducing their services, the Governor fought hard to include needed economic stimulus to help create jobs and boost our economy.” In light of the nation’s economic recession, Governor Arnold Schwarzenegger takes decisive action to make progress and move forward with California’s finances.

http://gov.ca.gov/index.php?/press-release/11522/