Monday, October 4, 2010 – 09:30 a.m.

What a disgrace!

State leaders in Sacramento announced another “sham” budget deal over the weekend. And this year is proving to be no different than others.

If this is the outcome of a 100-plus day budget delay, then why was there this big hold out?

The so-called “Big Five”, an ego-driven group consisting of the Governor, Senate President, Senate Republican Minority Leader, Assembly Speaker, and Assembly Republican Minority Leader, decided to avoid the necessary cuts to state spending and kick the can down the road.

The Governor and legislators have only proposed $7.5 billion in spending cuts.

No where near enough to do the job.

The remainder of the $19 billion deficit, another dubious figure, is being made-up by a series of tax credit suspensions and higher revenue projections.

Revenue that will never materialize. And believe me, they know it.

The state has also been spending money like a drunken sailor since the start of the current fiscal year on July 1.

Little or no personnel reductions has been accomplished.

Additionally, there is also the matter of the added carrying costs for the delayed budget. A number now somewhere north of $3 billion.

Legislators should reject the proposal.

If not, expect the new state budget to be in deficit status immediately after approval.