SACRAMENTO — Facing a weakening economy that has increased the size of California’s projected fiscal 2009 budget deficit past $15 billion, Gov. Arnold Schwarzenegger yesterday proposed issuing up to that amount in bonds backed by state lottery revenue.

“As the deficit grew these last few months, I knew that we could not solve this crisis by cuts alone,” Schwarzenegger said. “We had to get creative and find new revenues without raising taxes.”

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