(Sacramento Bee) Davis' fiscal miscues helped lead to his recall, and Arnold Schwarzenegger was elected governor largely on his promise to clean up the mess. But he has scarcely made a dent in the structural deficit, and even worsened it by reinstating a $4 billion-a-year "car tax" cut.

Schwarzenegger persuaded voters to issue long-term bonds to refinance some of the state's short-term debt, which was threatening to spark a cash-flow crisis. While he hailed it as getting a handle on the out-of-control budget, however, it made no headway in closing the structural gap. In fact, it provided a few extra billion dollars to finance future deficits.