Arkansas budget takes a hit in the LA Times

This morning's Los Angeles Times condemns California Governor Arnold Schwarzenegger's attempt to pattern that state's budget after our own Revenue Stabilization Act, devised by Arkansas Governor Ben Laney in 1945. An excerpt:

His proposal, though, comes out of Arkansas, one of the nation's poorest states, where elected lawmakers leave their day jobs once every other year for 60 days to approve an annual budget that isn't much bigger than California's deficit. Arkansas has little to teach one of the world's largest economies about budgeting.

Here's the link.