Details on California’s Budget Balancing Act

Governor Schwarzennegger’s administration gave details on the planned  lay offs of  5,000 state employees. Employess at 10 state agencies will be laid off in the next four months with the biggest cuts in the Department of Corrections. Five percent of sworn officers at California prisons will lose their jobs.

State Treasurer Bill Lokyer said today that legislators should rely on spending cuts to balance the budget. “My suggestion to you is don’t delay the pain. It’s going to be awful, but just get it done. It’s going to be worse if it doesn’t get done.” Lokeyer said.