clipped from: www.msnbc.msn.com   

Patrick, 4 other governors seek $1 trillion federal bailout


Jan. 2, 2009

MADISON, Wis. - Massachusetts Governor Deval Patrick and four other Democratic governors are asking the federal government for a $1 trillion boost to deal with unprecedented state budget shortfalls.


The governors of Wisconsin, Massachusetts, New Jersey, New York and Ohio say that level of federal aid is needed to deal with state budget shortfalls pegged at $42 billion for the current fiscal year alone.


The governors say they have presented their plan to President-elect Barack Obama's transition team as well as congressional leaders, including $250 billion for education and $150 billion in middle class tax cuts.

clipped from: www.cbsnews.com   
California Faces $42 Billion Shortfall

CBS Evening News: Largest U.S. State Could Be Out Of Cash By February

The shine is off the Golden State.

California with a whopping $42 billion budget shortfall.

Gov. Arnold Schwarzenegger has called it a fiscal emergency.

out of cash by February

"Hasta la vista, baby,"