Understandably, very few citizens of California follow closely the state budget process which, for the 2026-27 fiscal year, just kicked off with the release of the Governor’s proposal. Of course, part of that may be due to the complexity of public finance issues, but the reality is that since 2010 with the passage of Proposition 25, the state has no discernible annual spending plan. Technically, the timing of passing a budget hasn’t changed. It’s merely that the deadlines in the constitution are ignored. This column has previously reported on how all phases of the budget dance are fake insofar as...