A new article in the San Francisco Gate reported that Governor Schwarzenegger has called legislators into a budget meeting to slash spending and increase taxes. The budget of California has been hard hit this year in the wake of the Southern California wildfires with the thousands of homes that were destroyed, along with the downturn in the national economy. California will be amongst the hardest hit, because a collapse of the housing bubble makes an enormous impact on a state that derives great revenue from property taxes due to the enormous cost of owning a home there. California’s state budget seems to be in need of fast payday loans. The state budget of California is already running a several billion dollar deficit, and it is poised to hit over $11 billion by the year's end. If nothing is done, it may balloon to up to almost $30 billion by summer next year. Gov. Schwarzenegger admonishes lawmakers for not only failing to act in a timely fashion, but also tells them that they had best get something done about this quickly, otherwise the state of California will be looking at a 25 billion dollar plus deficit by summer 2009. Your finances can take a quick tumble if you don’t act quickly, and if you are stuck in a shortage due to an emergency expense, payday loans can be a great help to get yourself out of bailout.