California's New Budget Already Outdated 1.49K Jeff Neumann 11/12/10 05:21AM Filed to: Accounting Accounting California Arnold Schwarzenegger Jerry Brown Money budgets shutterstock California Governor Arnold Schwarzenegger this summer declared a "fiscal emergency" over the state's $19 billion budget deficit, and they finally passed a new budget last month. But now that budget is another $6 billion in the red. Poor Jerry Brown.