Thirty state budgets go unbalanced, missing July 1 deadline

Governor Arnold Schwarzenegger claims it’s ok that California’s state budget isn’t balanced, since 30 other states don’t have theirs ready either. No big deal. (NYT)

Up to three million people who have mortgages with the troubled Fannie Mae and Freddie Mac will be able to refinance, according to HUD Secretary Shaun Donovan. But detractors say this plan isn’t enough to make a big impact. (WSJ)

The Treasury Department is expected to name up to nine fund managers to control PPIP. No word on when, but here’s hoping it’s soon. (Reuters)

In an effort to garner public support for his health care bill, President Obama makes a link to it actually being able to bolster the economy. (NYT)

In the first major assault during Obama’s presidency, U.S. Marines enter into Taliban territory in South Afghanistan. (Reuters)