Schwarzenegger: Deficit Is 'Rock Upon Our Chest' - CBS News 8 - San Diego, CA News Station - KFMB Channel 8

Schwarzenegger: Deficit Is 'Rock Upon Our Chest'

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SACRAMENTO, Calif. (AP) - Gov. Arnold Schwarzenegger has called California's massive deficit a "rock upon our chest" and says the state can address no other policy issues until the crisis is resolved.

In a relatively brief State of the State address to lawmakers on Thursday, Schwarzenegger said the financial situation has put California in a state of emergency.

California's budget deficit is expected to soar past $40 billion during the next year and a half.

Schwarzenegger said, "The $42 billion deficit is a rock upon our chest and we cannot breathe until we get it off."

Schwarzenegger says lawmakers must act quickly to avoid even worse developments in the weeks ahead, when the state is expected to run out cash.

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