California officials may freeze or halt thousands of projects
California's cash crisis may force officials to delay or halt infrastructure projects throughout the state. They are meeting today to freeze financing on road, levee, school and housing construction projects, as well as park improvements, environmental restoration and prison repair projects. All the projects rely on funds from routine bonds that the state cannot currently sell. The move could cut 200,000 jobs and cost private companies $12.5 billion. Los Angeles Times (12/17)