California's dire budget situation prompted a largely unprecedented response Monday, with both chambers of the state legislature meeting together to question a panel of state financial experts on how to fix what appear to be ongoing budget deficits.

Most of the state's 40 state Senators and 80 state Assembly members gathered in Assembly chambers in a joint convention that's usually reserved for visits from heads of state.

The convention began with remarks from the four-member panel, which was comprised of state Treasurer Bill Lockyer and state Controller John Chiang, both elected Democrats; Legislative Analyst Mac Taylor and state finance department director Mike Genest.

"We cannot waste time arguing about how we got here today," Chiang said. "We only have time to quickly come together and pursue solutions and make the tough decisions that will protect our future."

The questions from the legislators, though, were largely suggestive of the respective Democratic and Republican positions in the budget debate.

"My question is, how important is job creation to economic recovery, and how vital is job creation to putting the budget in balance," asked Assemblyman Danny Gilmore (R-Hanford), whose district suffers from high unemployment and is also a potential swing between Democrats and Republicans.

Republican legislators have pushed for a budget fix that includes reducing workplace regulations to spur economic growth.

State Sen. Ellen Corbett (D-San Leandro) focused on how potential state economic insolvency - which could come as soon as March - would affect state vendors.

"Controller Chiang, can you give some real-world examples of how individuals will feel the impacts or the impending impacts of our pending cash shortage in the state?" she asked.

Chiang said he didn't have specific examples, though there are thousands of vendors who do regular business with the state who would be immediately affected.

State finance officials said there's a deficit of $9 million in the current year state budget, and a combined deficit of more than $23 million in this fiscal year and next.

Deficits are also projected for years into the future.