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The Golden State isn’t so golden right now.
Facing a budget shortfall of some $24.3 billion, California’s political class is digging deep to close it. The latest round of cuts, announced Monday by Governor Arnold Schwarzenegger, are projected to save $1.3 billion, but sacrifice all vendor contracts signed by state agencies since March 1.
The sweeping measure leaves exempt any ongoing application of bond or stimulus funds, but applies across the board to everything else, including school books, which will be replaced next school-year with digital texts.