[Amerigomag]

At least Arnold has resisted giving drivers licenses to illegal aliens ---The few crumbs Arnold has thrown to the right

Schwarzenegger neither resisted a temptation nor pandered to a minority voting block.

Schwarzenegger vetoed the legislation because just behind the cameras was a mob, numbering in the millions, full of righteous anger, armed with pitchforks and ready to do the Austrian bodily harm.

Schwarzenegger took the only course that would allow him to go home that evening and come back and play another day.

[calcowgirl]

I have been trying to figure out how to post a table from the LAO Report (Figure 3). It is quite interesting. It shows that the surplus as of the end of 2005-05 grew to over $9 Billion and then shows how it is depleted to $153 million by the end of 2006-07. Here is the explanation of the surplus and other key figures:

• The 2004-05 fiscal year concluded with a reserve of $9.1 billion. The reserve amount is up sharply from the $7.5 billion estimate included in the 2005-06 Budget Act, and is $1 billion more than the amount assumed in our November forecast. This improvement from both of the previous estimates is due mainly to large upward revisions to year-end revenue accruals to the corporation tax and personal income tax. More generally, the large 2004-05 reserve is a reflection of strong amnesty payments received last year, and includes the proceeds of the deficit-financing bonds issued in 2003-04.

• In 2005-06, expenditures are expected to exceed revenues by $2.6 billion, leaving $6.5 billion in the reserve.

• In 2006-07, expenditures increase to nearly $98 billion, while revenues are projected to reach $92 billion. The resulting large operating shortfall results in a further decline in the reserve, to $613 million by the close of the budget year.