WTF does "Fiscal Emergency" Mean?

by Brian Leubitz [courtesy of Calitics - Front Page]

Well, we're in one. Under Prop 58 approved right after the recall, the Governor has the authority to declare these emergencies to allow him to hold the Legislature hostage. More deets at the SacBee:

It will mark the first time Schwarzenegger has used the "fiscal emergency" authority that he asked voters to create by passing Proposition 58 in 2004. The provision allows the governor to declare an emergency when revenues are "substantially below" what was anticipated when the budget was signed. Such an emergency would summon the Legislature into special session.

If lawmakers fail to send the governor legislation addressing the budget problem within 45 days, they cannot take action on any other bills or adjourn until they do so. (SacBee 12.14.07)

Well, this puts a damper on our ever-so-sunny outlook in Sacramento. Spending will likely be slashed, but when are we going to address the real problem? We can't keep going on this boom/bust budget roller coaster that we are riding. Maybe we can appoint John Laird as our fiscal administrator. Trust me, things would be way better than they are now.

So...um...John Laird for Fiscal Overlord '08!