California gubernatorial recall: Then Governor of California Gray Davis announces that the state would face a record budget deficit of $35 billion, roughly double the figure reported during his reelection campaign one month earlier.

2003 California gubernatorial recall election

The 2003 California gubernatorial recall election was a special election permitted under California state law. It resulted in voters replacing incumbent Democratic Governor Gray Davis with Arnold Schwarzenegger, a Republican. The recall effort spanned the latter half of 2003.…

Governor of California

Head of government of California

The governor of California is the head of government of the U.S. state of California. The governor is the commander-in-chief of the California National Guard and the California State Guard.

Gray Davis

Governor of California from 1999 to 2003

Joseph Graham "Gray" Davis Jr. is an American attorney and former politician who served as the 37th governor of California from 1999 until he was recalled and removed from office in 2003. He is the second state governor in U.S. history to have been recalled, after Lynn Frazier…

California

U.S. state

California is a state in the Western United States that lies on the Pacific Coast. It borders Oregon to the north, Nevada and Arizona to the east, and shares an international border with the Mexican state of Baja California to the south. With almost 40 million residents across…

Government budget balance

Difference between revenues and spending

The government budget balance, also referred to as the general government balance, public budget balance, or public fiscal balance, is the difference between government revenues and spending. For a government that uses accrual accounting the budget balance is calculated using…

United States dollar

Currency of the United States

The United States dollar is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar, divided it into 100 cents, and authorized the minting of coins denominated in dollars and…