California Gov. Arnold Schwarzenegger is a man of his word this week. His threat to significantly cut the salaries of 200,000 state employees if lawmakers failed to produce a budget turned into reality when he signed an executive order reducing their pay to $6.55 an hour.
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As California Democrats and Republicans struggle to find a satisfactory compromise and seal the deal on a new and overdue state budget, Gov. Arnold Schwarzenegger's frustration has risen to the point of making threats. He's considering an executive order that would reduce 200,000 state employees' salaries to the $6.55 per hour federal minimum wage, which CitizenSugar points out is $1.45 less than the state's minimum wage.
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If you thought your wallet was feeling light, it's not just you — states are feeling the budget crunch just as hard — with unique ways to manage the money meltdown.
In California, Gov. Arnold Schwarzenegger has just threatened to pay state employees federal minimum wage in an effort to push lawmakers to agree on a budget.
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Later this month the federal government and several states will increase their minimum wages. Even after the raise, 24 states and the District of Columbia will have minimum wages higher than the new federal wage of $6.55. What do you know about the minimum wage as it stands today?
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