The Governator Screws Up and Californians Will Pay

California Gov. Arnold Schwarzenneger is about to declare a fiscal emergency thanks to a complete mishandling of the budget by he and the legislature:

Gov. Arnold Schwarzenegger said Friday he will declare a "fiscal emergency" in January to give him and the Legislature more power to deal with the state's growing deficit.

Schwarzenegger made the announcement Friday after meeting with lawmakers and interest groups this week to tell them California's budget deficit is worse -- far worse -- than economists predicted just a few weeks ago.

The shortfall is not $10 billion, but more than $14 billion -- a 40 percent jump that would put it in orbit with some of the state's worst fiscal crisis, those who have met with him said.

A fiscal emergency would trigger a special session and force lawmakers and the governor to begin addressing the shortfall within 45 days.

Of course, the Dems who run the state have a ready answer - tax increases, and the Governator is likely to go along with them. Hold on to your wallets.