Why this state is in the mess it's in

California's Senate leader announced on Friday that state Democrats would not support a proposal to limit the percentage of the state's budget devoted to debt payments:

Senate leader Don Perata said Friday that Democrats would not accept a constitutional amendment on borrowing limits, a provision that was a key part of Gov. Arnold Schwarzenegger's $222 billion infrastructure proposal.

The governor said in his State of the State address in January that he wanted no more than 6 percent of the state's general fund revenue to be used to repay debt.

Perata, D-Oakland, said Friday that provision is "unworkable and unnecessary."

After all...it's only money, right?!