State's budget deficit widens as revenues fall short: legislators reluctant to make $2 billion in cuts outlined by Schwarzenegger.

Despite encouraging signs earlier this year that the state budget deficit might be narrowing, the upcoming May revision will be worse than expected and could add another $2 billion to $3 billion worth of red ink in the upcoming fiscal year.

The additional shortfall, tacked onto the $14 billion projected in January, is likely to put more pressure on Gov. Arnold Schwarzenegger and state lawmakers to reach a b...

If you are already a vLex customer, Access Here