BY MIDNIGHT West Coast time tonight, Arnold Schwarzenegger will have solved California’s fiscal mess. Well, not solved it, exactly, but he is poised to deliver on the last of his big three recall promises. The Governator wants the legislature to sign off on a $15 billion deficit bond, which voters will have to approve next March. Schwarzenegger could get a version of that as soon as tonight, as well as a spending cap (he calls it a “never again spending limit”) that gives him more control over the budget process in fiscal fights to come.
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