California Residents Face $38.2 Billion Deficit

News about: Government Grants & Loans From Government Publications

Washington, DC (PRWEB) July 11, 2003 -- Many states are facing huge budget shortfalls this year, partially due to the 9/11 calamity and sagging economy. California is facing a 38.2 billion dollar deficit in its 2003 budget. Beside the drop in consumer spending and tourism, the state is sorely missing revenue from capital gains on stock options which amount to a quarter of their total fiscal resources.

In an effort to help stimulate national and state economies, government and private lending institutions are combining efforts to make it easier for people to acquire funds to buy a home, car, consolidate debts or start a new business. "Now is the time for people to act if you need money for any purpose," according to Terry Newborn, researcher for Government Publications, a Washington, DC based firm.

In addition, Mr. Newborn announced there are several reduced cost or free benefit programs to help California residents who lost jobs or are economically disadvantaged. For example, dental care, eye care services, prescription plans and legal services as well as unlimited free Internet services to all residents.

Furthermore, HUD Secretary Mel Martinez and President Bush have announced a "Homebuyers Bill of Rights." Some of the nation's largest financial institutions have committed themselves to increasing home buying opportunities for minorities, credit impaired, the
homeless, the elderly, and people with disabilities or subsidized incomes.

"Never before has it been easier to get a HUD guaranteed mortgage loan," Mr. Newborn proclaimed. It's all part of a joint government and banking initiative to revitalize the economy. "Mortgage interest rates are at a 35 year low so right now is the time to start canvassing the housing market for that dream home," Mr. Newborn stated.

Government Publications offers a CD-Rom Business Kit which details information on all the new programs, free services and special programs for women and minorities. It reveals how and where to apply for free grant and loan resources for any worthwhile purpose. The CD-Rom sells for $39.95. To order, log on to web site: www.govpub.org or call 800-306-0873. The CD Rom also includes 50 successful grant applications that were already funded.

"These sample applications serve as useful guidelines for anyone applying for grants or loans," Mr. Newborn urged. "They are invaluable because most loan and grant applications are not denied because of ineligibility but due to improper or incomplete paperwork," he noted.

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