Gov. Brown signed the budget just hours before the midnight deadline, even though legislators sent him the budget 12 days ago. (Courtesy Creative Commons)

The $92 million California general fund budget fixes a $15.7 billion deficit but an estimated $8.5 billion dollars of that is expected to come from two Nov. 6 ballot measures. The measures include increasing the sales tax as well as the personal income tax for people earning more than $250,000 a year. 

If the measures fail, public schools, colleges and universities will face more than $6 billion in automatic spending cuts.

In a move that angered many Democrats, the budget also features cuts to children's healthcare and will transfer 880,000 children to Medi-Cal. The budget also includes cuts to the welfare-to-work program, reducing the amount of time parents in the program have to find work from four to two years.

Read it at the San Francisco Chronicle.

Follow Neon Tommy's coverage of the battle over the 2012 California budget.

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