S&P forces Democrats to balance budget

This morning Assembly Speaker John Perez, D-Los Angeles, and Senate President Pro Tem Darrell Steinberg, D-Sacramento, anounced big solutions for the state’s budget problems. They said the Senate and Assembly budget proposals, due on Friday, will close the deficit this year, erase $200 billion in debt, create a structural balanced budget and provide the state with $2 billion in reserves by the 2015-16 budget year.
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