May Revise

In California, tomorrow is the day for the May revise, when the governor offers a revision of his January budget. It's the launch of the budget season in most years. Leaks of the governor's proposals typically drip out in the days before. The LA Times is reporting on its web site that Schwarzenegger is going to take the delicate question of revenues to voters. He wants to give them the choice, in a November ballot measure: borrow against future lottery revenues, or see sales taxes raised to cover the budget deficit.