Commentary California’s state budget is supposed to be crafted by the June 15 constitutional deadline. For fiscal year 2021-22, which began July 1, it wasn’t. Instead, the legislature passed a “placeholder” budget—that is, a fake budget. Proposition 25 from 2010 mandates legislators’ pay be cut off if they miss the deadline. Then-Controller John Chiang actually did just that in 2011, until a judge ruled against him. Of course, if you’re even a minute late with paying your personal or business taxes, state tax authorities will impose massive penalties, plus interest. Last week, the legislature finally did pass what appears to be an actual budget, although some parts still are being negotiated with Gov. Gavin Newsom. It spends $262 billion, including federal funds. The key always is the general fund, which clocks at $196 billion. That’s up 18 percent from last year’s $166 billion during the COVID year. The positive part …