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Calif. Borrowing $40M A Day To Pay Unemployment

With one in every eight workers unemployed and empty state coffers,
California is borrowing billions of dollars from the federal government
to pay unemployment insurance.

 

White House says no to California budget help

The White House on Tuesday dashed hopes that the federal government would help California overcome a mammoth budget crisis that has brought the state dangerously close to an economic meltdown, saying the state will have to solve the problem on its own.

 

Obama Announces New Plan To Aid Homeowners

President Barack Obama announced fresh aid to struggling homeowners in California Thursday, playing a bit of divide-and-conquer by pitting his Republican critics in Washington against GOP governors and mayors eager for the federal money.

 

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