Budget Update: Schwarzenegger says he’ll veto Dems plan for balancing budget

Democrats unveiled their spending proposal Wednesday, and got some tepid reviews from the governor and Republican lawmakers.

Capitol Weekly reports,  “The state’s budget standoff seemed either to be approaching its final chapter, or on the verge of unraveling entirely, depending on your vantage point in the state Capitol Wednesday. “Democratic leaders met with the governor to walk him through their new, $23.3 billion budget plan Wednesday morning. Afterwards, Schwarzenegger walked out of the meeting to face reporters, and discuss all the things in the plan that he didn’t like.VETO

I cannot sign a budget that has tax increases in it,” Schwarzenegger said. He also criticized Democrats for adopting temporary budget solutions that did not solve the state’s fundamental spending problem, and for failing to cut state worker pay.

You can watch exerpts of the governor and legislative leaders discussing the Democrats’ budget here.

One thing is clear — the budget will have to be tweaked before it is signed

The LAT’s budget team reports, “Gov. Arnold Schwarzenegger told the leaders of the Assembly and Senate on Wednesday to scrap their plan to raise taxes to help close the state’s budget deficit, but the two Democrats insisted they would move ahead next week with a vote of the full Legislature.”

Mike Zapler loks at the major differences between the governor’s plan and the Democrats’ proposal . “The Democratic proposal has much in common with Schwarzenegger’s budget plan, calling for cuts to education, the social safety net and prisons. But the differences between the two approaches threatened to trigger a protracted stalemate, despite warnings that the state must pass a budget soon to avoid running out of money next month.

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