The lawmakers of California passed the state's $86 billion budget on Tuesday. The budget includes spending cuts including the cuts of $1.3 billion out of the state's university systems. California has "Prop 25" that cuts lawmakers' pay until they pass a balanced budget by a mid-June deadline.
The Chinese Premier Wen Jiabao has signed $15 billion trade agreements with Germany on Tuesday during his his European tour. The Chinese government agreed to buy 88 Airbus planes as well. The nations announced their plan to boost the trades, $280 billion with Germany, and $100 billion with UK by 2015.