California Makes A Deal

schwarzenegger tbi

We may never get to see the full evolution of the Arnie-dollar. At least at the moment, it looks like California’s reached a budget deal.

WSJ: Gov. Arnold Schwarzenegger and California legislative leaders Monday said they reached a compromise to close the state’s $26 billion budget shortfall.

Under the plan, state lawmakers would cut $15 billion in spending. The rest of the gap would be filled by taking funds from local governments and through one-time fixes and accounting maneuvers. The deal must still be approved by rank-and-file legislators, who are expected to vote on it Thursday.

Sounds great! Except for that part about the one-time fixes, accounting maneuvers and plundering cash-strapped local governments.

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