Rich Pedroncelli / AP Photo
California legislators have finally reached a compromise on how to bring their state back from the brink of economic catastrophe—but don't expect dancing in the streets: "There isn't a whole lot of good news in this budget," one prominent state politician said of the deal to close the $23.6 billion deficit. Indeed, major cuts for the elderly and the poor are likely on the way. It appears that the budget accord "will reshape government in California," the Los Angeles Times reports, as many services offered by the state will be scaled back. The changes are extensive, and a few can be expected: Large numbers of state prisoners having their sentences reduced, oil drilling off the Santa Barbara coast, and state workers taking more unpaid days off. A small consolation: No broad-based tax increases. Thanks, Arnold.