Schwarzenegger, in one of the most roundabout ways of saying "fuck you" to the voters that has ever been heard, has unveiled a vast new spending package, including floating a new state bond.
Why? Well, he tried to ram through change, and the voters shot his arrogant butt down. But unlike most politicians, he actually admits publicly to having lost. Not short of a touch of bitterness, this package represents "oh, so you want business as usual? I'll give you business as usual..."
Which means that there will be no meaningful reform in that state until it's finally run off a cliff under the weight of its own union-enforced educational mediocrity, state-regulator-enforced business exodus (which in California will give sub-orgasmic shivers of anti-capitalist delight to precisely the lower-middle-class workers who most depend on these corporations for jobs), and ever-mounting public debt.