NewsConference: California Facing $54 Billion Deficit

NBC4’s Conan Nolan talks with State Senator Holly Mitchell D-Los Angeles, the chair of the Senate Budget Committee. With the tax revenue falling, California is now facing a $54 Billion deficit. How will our legislators deal this this massive deficit? How is the federal government helping? Who is facing cuts? How is this impacting our businesses? Los Angeles Area Chamber of Commerce President and CEO Maria Salinas says it is not business as usual, they in a very difficult situation and her membership is trying to figure out regulations passed when economy was strong.