CALIFORNIA: The nonpartisan Legislative Analyst Office (LAO) last week deemed California to have an “almost nonexistent” chance of receiving $6.9 billion from the federal government to solve the state budget crisis. Governor Arnold Schwarzenegger’s budget plan relies on federal funds to bridge more than a third of the state’s projected $19.9 billion budget gap. The LAO estimates that California will receive only $3 billion in new aid for 2010-11, less than half of what the governor assumes. California’s credit rating was also downgraded from an A to an A- last week

Source: Aetna, InsuranceCompany.com