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California, We Have a Budget!

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After a 93-day impasse, California lawmakers and Governor Arnold Schwarzenegger reached an agreement last night on a budget, according to the Sacramento Bee.

The "handshake deal" was reached after a five-hour meeting. "No details were released on how the state plans to bridge a $19 billion deficit, as legislative leaders left the governor’s office in the Capitol," notes the AP as published by CBS.

The 93-day budget-less gap surpassed the record previously set in 2008 at 85 days.

The next step is a floor vote which will probably take place on Thursday; details of the budget will likely be released as part of a public hearing scheduled for Wednesday.