There’s an old adage that comes to mind when reading the Governor’s budget: “When you’re up to your eyeballs in alligators, it’s hard to remember that you came to drain the swamp.” The practical application of that adage will define the success or failure of this administration, and with it, of California. The fatal mistake would be to believe that the most important budget issue facing the administration is the 2004-05 budget. It is not. A much more critical issue is whether and how fundamental reforms enacted this year will decisively shape future budgets. The Governor is right to single...