Although I'm sure Davis will certainly try to pass the buck the same way you're trying to do.

Somewhat inconveniently for your theory, the dot.com bubble burst nine months before Bush was elected, and the rest of the market followed. It goes without saying that the dot.coms and the trading of their stocks formed a major revenue source for California, and was about the only thing holding the California spending spree up.

I note that as usual, increasing California's budget at a rate three times that of inflation seems to escape you as a possible cause of our financial problems. I have noticed that the liberal brain does not seem to process any statement related to government spending being a problem as far as deficits are concerned. How many times have I pointed out that the Federal Budget has doubled in constant dollars since 1974? A normal person would have the grace to be at least slightly shocked.

Setting up a dog's breakfast of an energy pricing system* that--in violation of the most basic principles of the market--froze consumer prices while producer prices were sent all over the map, was only one of the dumb things Davis did. And we'll be paying for it for a long time.

*That, despite liberal doublespeak, was NOT any kind of "deregulation."