Moody's: Next California budget deficit likely to be $12 billion -- or more

Moody's, one of the nation's big credit-rating agencies, issued a report Tuesday that said California's next budget deficit is expected to be "at least $12 billion" after state lawmakers and Gov. Arnold Schwarzenegger approved a spedning plan that "relies heavily on one-time measures, optimistic revenue assumptions and the receipt of funds, some of which may not materialize."


Moody's: Next California budget deficit likely to be $12 billion -- or more

Blogged with the Flock Browser