California is facing a $20 billion dollar deficit and is asking the federal government for roughly $8 billion to help stay afloat. The governor has threatened to cut back, if not eliminate, basic social services like the state's welfare program, if not granted some financial assistance. We talk with Dan Walters, political columnist for the Sacramento Bee, about what the state needs to recover.

After weeks of budget battles and threatened cuts, the California state budget is finally up for a vote today. Or maybe tomorrow. Possibly next week. The Takeaway talks to Dan Walters, a political columnist for the Sacramento Bee, about California's continuing budget crisis.

A very tired looking Gov. Schwarzeneggar thanks people for their budget-solving suggestions in this video:

The new fiscal year for 46 states started this week. But eight states had to extend their legislative sessions in order to balance their 2010 budgets. California is even issuing IOUs as a stop gap measure to pay local governments, businesses and taxpayers. With us this morning to assess what is going on with the stalling of state budgets is Michael Bird; he’s the Federal Counsel to the National Conference of State Legislatures, a group that advocates for state government’s interests. We also have Dan Walters, political columnist at the Sacramento Bee , who’s been following the story on California’s budget crisis.

Want to see where your state's budget stands? Check out NCSL's handy chart.