Senate President pro Tem Perata Drops Denham Recall Bid

[courtesy of The California Majority Report]

CMR will have more later. Here's the transcript:

"Like all of you, I've been worried a lot about the economy - falling home prices, rising gas prices -- and how hard it's getting for people to find a job.
I've talked with both Treasurer Lockyer and Controller Chiang about the state's cash situation -- and the need to do everything we can to reach an agreement on the budget.

A long stalemate is the last thing we need. Without a budget - we run out of cash - the richest state in America gone broke!

We won't be paying our bills - and we won't be giving our schools, our emergency rooms and our police the resources they need.

There's more...