Governor Arnold Schwarzenegger and your legislative leaders came to a tentative agreement this evening to (finally!) "balance California's $26 billion deficit by cutting broadly across state government, shifting costs into the future and capturing funds from cities and counties." According to ,"[s]tate leaders believe their budget plan is credible enough to acquire billions of dollars in short-term loans that will end the states reliance on IOUs for only the second time since the Great Depression." (That is to say, California is still doomed! Maybe. Anyway.) The budget proposal, Sacto Bee goes on to explain, "includes spending cuts to programs ranging from schools to welfare-to-work to prisons. It takes money from local governments, including borrowing $2 billion that the state will repay starting in 2013 and taking gas taxes that normally go toward local road projects." By the numbers: 6 billion in cuts to education, 3 billion slashed to higher education, and 1.2 billion pruned from prisons. (Cuts to prison funding, however, will not mean that prisoners would get released early.) Some things that were spared? Cal Grants and most state parks. Please standby for fallout.

Sacramento Bee