Schwarzenegger and lawmakers agree on budget

07-27) 03:20 PDT SACRAMENTO (AP) --

Gov. Arnold Schwarzenegger and legislative leaders have agreed on an estimated $103 billion budget for California, ending a 26-day standoff and overcoming a rift that widened after the Republican governor ridiculed state Democrats as "girlie men."

While the agreement still needs approval from two-thirds of the Legislature, lawmakers are expected to embrace the compromise spending plan. A vote is expected later this week.

With billions of dollars in borrowing and one-time savings, the plan contains little of the cuts the governor wanted in January -- but Schwarzenegger shrugged off criticism, saying the process has produced a fair and workable plan.

"We were shooting for doing the best job for the people of California, and I think we have accomplished that," Schwarzenegger said at a late night news conference that capped an arduous day of almost nonstop negotiations.

more: http://www.sfgate.com/cgi-bin/article.cgi?f=/news/archive/2004/07/27/national0313EDT0441.DTL

my junior college updates us on the budget pretty much right after it's signed.. i wonder how bad it's going to be for them.