Gov. Arnold Schwarzenegger told state employee unions Tuesday his administration would cut another 2,000 jobs to help close California’s $26.3 billion budget deficit.
Meanwhile, Moody’s Investor Services downgraded California bonds to near-junk status, from A2 to Baa1, and placed the state’s credit rating on watch for possible further reductions.
Moody’s said the budget deadlock had put constitutionally [...]



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