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Calif. Speaker's solution for state deficit: U.S. taxpayers chip in billions

Not that many people outside of California care, but according to Gov. Arnold Schwarzenegger, the state faces a nearly $25 billion budget deficit. As the rich man that he is, the former movie star favors everybody else helping out by making his state's sales tax the No. 1 biggest, averaging 9.5%. According to the nonpartisan legislative analyst, Mac Taylor, the state's deficit will actually be closer to $28 billion in the next 20 months. That's a lot of money, even at California prices; more   read more »

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