Jerry Brown vetoes Democratic budget plan

http://latimesblogs.latimes.com/california-politics/2011/06/jerry-brown-veto-budget.html

Brown announced the veto in a press release today.

"Unfortunately, the budget I have received is not a balanced solution," his statement said. "It continues big deficits for years to come and adds billions of dollars of new debt. It also contains legally questionable maneuvers, costly borrowing and unrealistic savings. Finally, it is not financeable and therefore will not allow us to meet our obligations as they occur."