Will Proposition 1-A Finally Resolve State Budget Problems?

After three months of deadlock, Governor Schwarzenegger and Democrats in Sacramento rounded up three Republicans to pass a budget. But they insist that a $48-billion shortfall won't be resolved unless voters pass six ballot measures on May 19. The most important is Prop 1-A, the Budget Stabilization Act, which would cap spending, extend recently enacted taxes, and enlarge the “rainy day” fund.