Eating Seed Corn

Yep, Schwarzenegger is proposing borrowing against lottery future earnings to balance this year's budget.

What the Governator is doing is exactly what destroyed the Ottoman Empire, the sale of revenue sources in order to fund the current budget, with the inevitable crash.

Of course, as a Republican, he wants the crash, it's the whole wanting to reduce the government, "to the size where I can drag it into the bathroom and drown it in the bathtub", and insolvency works just as well as everything else.

I would hope that at some point, the voters of California come to their senses and repeal proposition 13.