RealClearPolitics - The Coming California Bailout

Its voters, at last sensible, rejected, by an average of 65 percent, five of six propositions. Gov. Arnold Schwarzenegger, the "post-partisan" Republican, and the partisan Democrats who control the Legislature, promoted the propositions as efficient for and essential to eliminating the state's budget deficit, which will now be $21 billion. So California may become the next target for the Obama administration, whose dependency agenda involves seizing every opportunity to break things -- banks, insurance and automobile companies, etc. -- to the saddle of its supervision.

The Orange County Register -- if but one newspaper survives today's leveling winds, may it be this one -- made the case for rejecting all six propositions: 1A would have created an illusory spending cap that could be "easily circumvented by raising taxes" -- and the ballot language did not mention that 1A would have meant a $16 billion two-year extension of some of February's huge tax increases. Proposition 1B promised the public school lobby $9 billion, effectively bribing them to support 1A, which the California Teachers Association did. Proposition 1C combined "two of the worst practices responsible for" the state's dysfunction, "rosy revenue projections and borrowing": It would have authorized borrowing from (hypothetical) increases in state lottery revenues. Proposition 1D, "one more hide-the-pea fiscal deception," would have transferred to the general fund -- and much of it on to public employees -- revenues raised for children's programs. Proposition 1E would have done the same for revenues raised for mental health services.

RealClearPolitics - The Coming California Bailout