Free Republic

SACRAMENTO (AP) - Amid much fanfare inside the Capitol's historic rotunda, Gov. Arnold Schwarzenegger signed a $105 billion budget package Saturday that he celebrated for imposing no new taxes while balancing spending with income. While technically accurate, the Republican governor failed to mention that $7 billion in loans and one-time saving are embedded in the spending plan and are used - much as former Gov. Gray Davis did last year - to paper over the state's spending problems one more time. The budget, negotiated after a difficult 26-day standoff with the Legislature's Democratic majority, does little to resolve the spending...