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Lawmakers meet to solve state deficit

November 6, 2008 8:38:04 AM PST
State lawmakers are meeting with Governor Arnold Schwarzenegger on Thursday for a special session aimed at solving the state's growing deficit.Democratic leaders say the deficit is now more than $11 billion, an increase of some $8 billion.

The governor has proposed a mortgage relief plan to stabilize California's economy, which includes a 90-day moratorium for homeowners in default on their loans.

State democrats and republicans say there is still little agreement on a solution to fix the problem.

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