I think this is the first time it is clear to all that government spending has a direct effect on everybody; as people realize their dollars don’t buy squat they can see the effect of Obamanomics on their everyday lives.
Your estimation of voter intelligence is much more generous than mine. Maybe if I lived anywhere but California I might be persuaded to think your way. But "spending yourself rich" seems to be a huge vote-getter here, especially with the public employee unions and the dim bulb products of our government schools who've been indoctrinated to think socialism can really work.
I see the coming national election as California politics writ large. Its basic themes will be class warfare and accusations of racism against anyone who campaigns against The One. Again, I hope you're right but I don't feel this is a time for complacency.