From the article:
"Gov. Arnold Schwarzenegger ... unveiled a $99.1 billion budget plan"
From the Legislative Analyst's Office Budget Overview of the 2003-04 budget:
"The budget package, as passed by the Legislature, authorizes total spending of $98.9 billion. Of this amount, $70.8 billion is from the General Fund, $20.5 billion is from special funds, and $7.5 billion from bond funds."
From a May 2003 article in NewsMax about Davis' revised budget proposal:
"The revised $96 billion spending plan for the 2003-04 fiscal year"
It's not a real cut to the entire budget, but it's hardly an increase from this year's actual budget, either. CA revenues are increasing, although still not enough to keep up with the 40% increase in spending over the last five years.
Let's hope Schwarzenegger wields his blue pencil on all the additional spending the Democrats in the legislature are bound to try to include.