California’s Gov.
Schwarzenegger wields knife, talks budget cuts in video
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Schwarzenegger, lawmakers reach agreement on budget
Gov. Arnold Schwarzenegger and California legislators announced a tentative deal to eliminate a $26 billion deficit Monday evening, with state agencies looking at billions of dollars in cuts as part of the plan. Schwarzenegger said the “basic agreement” includes no tax increases, which his fellow Republicans in the state Assembly and Senate had refused to support.