Gov. Arnold Schwarzenegger will deliver a speech in San Diego Friday to update Californians on the status of the state budget.
He said he is revoking the state controller's authority to take out an emergency loan for California. The Governor wants to ratchet up pressure on lawmakers to address California's $24 billion budget shortfall quickly.
Schwarzenegger says such a loan would be too expensive and give lawmakers an excuse to stall; Democrats say threats from the Republican governor to shut down state government won't solve the crisis.
The Governor’s speech was scheduled to start at 11:45 a.m. You can watch it live at www.gov.ca.gov.
Copyright AP - Associated Press
