Another Budget Shortfall Impacts Politics and Schools

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Governor Schwarzenegger and the legislature will ask voters to uphold their $42 billion budget deal, but now there’s a new, $8 billion shortfall. How will that impact the May election and continued employment of 26,000 teachers? Also, USC, UCLA and CSUN all head to the NCAA Tourney. On our rebroadcast of today’s To the Point, what easy credit, reduced borrowing limits and higher interest rates mean for consumers and the economy.

Credit card companies made big money by extending easy credit, but now they’re reducing borrowing limits, jacking up interest rates and even closing accounts. Also, USC, UCLA and CSUN are all heading to the NCAA Tourney. On our rebroadcast of today’s To the Point, we consider what that means for consumers and the economy. Also, California’s budget problems are not over, even if voters uphold last month’s $42 billion compromise. Will a new, $8 billion shortfall lead to thousands of teachers being laid off after all?

From this Episode:

Credits

Host:

Warren Olney

Producers:

Katie Cooper, Christian Bordal