Mike Rosenberg of Mercury News reports that while legislators in Sacramento are patting themselves on the back for passing a balanced budget, they may find the celebration a little premature as a mountain of long-term debts and underfunded pension liabilities comes due.

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The Associated Press reports rank-and-file Democratic lawmakers in California say they are agreeing to less spending than they wanted so they could pass the budget on time, but they will push for funding pet projects next year when they expect the state's tax revenue will be coming in higher than the Brown administration projects.

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Dan Walters, writing for the the Sacramento Bee, explains why calling California's recently passed budget a "balanced" one is a bit misleading, as it leaves many of the State's liabilities unaddressed and allows for increases financed from the temporary sales and income tax increases that voters passed last year.

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