Free Republic

Two-and-a-half years ago, Gov. Arnold Schwarzenegger stormed to power in an unprecedented recall election, vowing to end the gross fiscal mismanagement seen under Gray Davis. Since then, the budget picture has brightened – primarily because of big revenue gains and slight slowing in spending growth. Nevertheless, a vast annual “structural deficit” of at least $5 billion remains. So the 2006 governor's race is likely to hinge on how candidates say they will right California's fiscal ship, just as in 2003? Not even close. In fact, none of the three leading candidates have a credible plan to fix this mess. Here's...