The Big Five made big progress Thursday in their budget negotiations.
Thursday afternoon Gov. Arnold Schwarzenegger's spokesman released a 32-word statement that the entire state has been waiting to hear.
"The Governor and Legislative leaders have reached the framework of an agreement, will work through the details over the weekend, and hope to come to a final agreement when they reconvene Monday," Press Secretary Aaron McLear said in the statement.
The Big 5 include the governor, Assembly leader John Perez (D-Los Angeles), Assembly Minority leader Martin Garrick (R-Carlsbad), Senate President pro Tem Darrell Steinberg (D-Los Angeles) and Senate Minority leader Dennis Hollingsworth (R-Murrieta).
The governor and leaders from both parties have been meeting at Schwarzenegger's private offices located at Oak Production in Santa Monica for the past two days trying the hammer out a deal.
Details were not immediately available so we don't know how they solved the $19 billion budget deficit
The year 2010 is the latest state budget on record.