SAN FRANCISCO - Facing a growing budget deficit, California Gov. Arnold Schwarzenegger will call a special session of the Legislature today.

The lame-duck session, which brings back the outgoing Legislature rather than the one that was elected yesterday, will be asked to fix budget problems that have grown in the short time that has passed since the same lawmakers passed the current budget in mid-September - more than 12 weeks after the fiscal year began.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.