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Schwarzenegger declares emergency more»»
California Gov. Arnold Schwarzenegger on Monday declared a fiscal emergency, calling for fast legislative action to alleviate the state's $11.2 billion shortfall in revenue.
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Obama and governors to talk state aid more»»
Plagued by rising unemployment, falling tax revenue and increased demand for state services, governors from across the country will meet with President-elect Barack Obama on Tuesday to press for federal money to ease their fiscal strain.
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Dow plunges 680 points more»»
Stocks got hammered Monday, as investors bailed out following confirmation that the U.S. is mired in a recession and indications that it's likely to continue for some time.
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