In the last decade, Californians have endured more than their share of melodramas in state government. Perhaps that’s why there is so little uproar about the current mess. Having heard the politicians cry wolf so many times, our reaction is: Ho-hum, another budget crisis.
Here’s the problem: There really is a wolf this time.
A financial disaster looms. The deficit over the next 17 and a half months is $42 billion. The state is now two weeks away from paying its bills with IOUs as it approaches what Gov. Arnold Schwarzenegger calls “financial Armageddon.”
The governor and legislative leaders are scheduled to meet again today.
Good luck, California.