Gov. Schwarzenegger is out beating the drum of desperation, with estimates that the state will need to borrow $20 billion to get through this year if voters don't approve the new taxes and borrowing on the ballot.
It is interesting to me that as revenues fall due to the bad economy, and the budget deficit gets worse, the single-minded efforts of our state "leaders" is to scare voters into passing more tax increases and borrowing. If they were, in fact, leaders, they'd be up their busting their hump trying to figure out how to cut spending to live within current revenue. I.e. doing what is responsible, while making their case to the voters. Instead, they are acting like a man who loses his job and then asks for help from charity while he goes out and buys a new ski boat and takes his family on vacation.