Arnold Schwarzenegger's ineptitude has led California into complete ruin. David Dayen had the latest updates from last night.
It has been truly depressing to watch the Twitter feeds of John Myers and Scott Lay tonight, as the mood shifted from guardedly hopeful to despairing. The Senate keeps voting on things and not coming up with any solutions. They tried to pass the stop-gap solution again, and came up short of the votes needed. They passed the majority-vote budget with some fee increases, and the Governor vetoed them. Let's all please remember that. With a stroke of the pen, the Governor could have ended this.
If SB 64 and SB 80 (the stop-gap) don't pass by midnight (and actually, in an hour or so, because it takes a couple hours to prepare the necessary paperwork), the state will forfeit $3 billion in cuts to the 2008-09 budget year, which they will have to find in the following year, and a total of around $7 billion in total costs, when you add in the costs of additional borrowing, etc... read on
Keep reading if you want to get depressed. This is a great state and in Arnold's hands, it's going down the tubes and fast.