The California Legislature finally reached a compromise on the state budget this week, but Governor Schwarzenegger quickly threatened to veto the $146 billion budget proposal. Why does Schwarzenegger oppose this proposal, and what are the next steps in the record-long budget standstill?
Plus, the Dow Jones industrial average dropped by more than 800 points earlier this week, following a string of government bailouts that were offered to struggling financial institutions. What's the thinking behind these government bailouts, and what does this week's financial news tell us about the overall health of the U.S. economy?
And, the median home price in San Diego has reached a 5 1/2 year low. What's the latest news on the local real estate market, and are we starting to creep into the realm of local home affordability?
Guests
- Chris Reed, editorial board member for the San Diego Union-Tribune .
- Tony Perry , San Diego bureau chief for the Los Angeles Times .
- Scott Lewis , co-executive editor of voiceofsandiego.org .
