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California Bailout?

Versions of bills attempting to spend unprecedented amount of federal money are beginning to appear out of Washington. Watch for possible help for California in the eventual federal economic stimulus package. The Los Angeles Times describes how the latest House proposal might effect the State’s budget:

The economic stimulus package congressional leaders are drafting would wipe out nearly a quarter of California’s budget shortfall, a potential windfall that could help end the impasse over how to close the nearly $42-billion gap.

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