All that has been done in the past 2 years is to inflate spending upon which future budgets will be benchmarked. Arnold's $15 Billion piggy bank that has been used to keep spending up is almost empty, so the REAL issue (CUT or TAX) may finally be put back in front of our "leaders." I'd love to see a debate between Angelides and McClintock. I think it would do wonders to expose the differences that should be the central issues.
Instead, we've been gambling away with the state's money, building up future year obligations (the bonds WILL have to be repaid, with interest), and ensuring ever-increasing budgets. One hiccup in the economy and we are going to be in a world of hurt (as if we aren't already!).
Hiccups? Who every heard of hiccups in a state routinely plagued by forest fires, flash flooding, and earthquakes? Naaaaaah. No hiccups here.