California's budget

Today's Washington Post:

Governor offers grim budget to plug deficit

California Gov. Arnold Schwarzenegger proposed an austere budget Friday for the coming fiscal year, taking the state back to its spending level of six years ago.

As a libertarian, I'm all in favor of budgets which are "austere" and "grim." I'm not quite sure, however, whether what Schwarzenegger is proposing quite fits the bill. First off, since 2004 California's population has only grown by about three percent (from 35,893,799 to 36,961,664). More noteworthy, California's budget hasn't exactly been on a diet since that time:

I look forward to the day California politicians propose the necessary and deep cuts necessary to get their fiscal house in order. This isn't it.