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Detailed text transcripts for TV channel - CNN - 20100702:15:04:00

Though expect to see some reaction tuesday and wednesday next week after the holidays. tony? some gains here, all right, alison. appreciate it. thank you. one other note on jobs, 200,000 california state employees could have their pay cut to the minimum wage this month. that s $7.25 an hour. governor arnold schwarzeneggered or ordered the move after the state started the fiscal year without a budget. he says it is a legal requirement. the man who writes the paychecks says he ll ignore the governor s directive. i ll do the right thing by the taxpayers of california and the public servants of california. so most important thing is in this difficult economic time, how do we protect the state treasury of california? i ll take that action to protect the treasury of california. if state workers see their pay cut, they will get back pay once a budge set finally approved. stay here in the cnn newsroom. danny boston from the school of economics at georgia tech joins us to talk about t ....

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