California's budget should hold up until winter, analysts say — but plenty of pain still in store - San Jose Mercury News:
"A funny thing has happened on the way to California's next regularly scheduled fiscal doomsday: a glimmer of good economic news.
Of course, those glad tidings may just be a temporary respite. But for now, buoyed by a resurgent stock market and other signs the recession is on its way out, the state's fragile revenue and spending projections ought to hold up until at least mid-January — and maybe even beyond, analysts and economists say.
If true, it would mark the longest stretch in more than a year when deficit-slashing wasn't the topic du jour in Sacramento."
"A funny thing has happened on the way to California's next regularly scheduled fiscal doomsday: a glimmer of good economic news.
Of course, those glad tidings may just be a temporary respite. But for now, buoyed by a resurgent stock market and other signs the recession is on its way out, the state's fragile revenue and spending projections ought to hold up until at least mid-January — and maybe even beyond, analysts and economists say.
If true, it would mark the longest stretch in more than a year when deficit-slashing wasn't the topic du jour in Sacramento."