Schwarzenegger Threatens Budget Compromise

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Unbelievable. Despite having a rock-solid majority in both houses of the state legislature, the Democrats agreed to almost every Republican demand in order to pass a budget that would allow the state to continue functioning. They backed off of tax hikes, even the terribly regressive sales tax that Schwarzenegger himself agreed to. They agreed to $7 billion in spending cuts. All to finally get a budget compromise, after close to three months of stalled negotiations and Republican obstinacy. And what happens? Herr Schwarzenegger threatens to veto the deal, because it contains a ten percent rainy-day fund instead of a 12.5 percent fund. We think money set aside to cope with the lean years is perfectly prudent, and we're not smart enough to know whether ten percent or 12.5 percent makes more sense. But we've seen the Dems just slash $7 billion in critically needed services rather than raise taxes a single penny. We're just not in the mood to hear more demands from the other side of the aisle.

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