PBC f-bombs California's "balanced budget"; MSNBC's Richard Wolffe on Obama, and ACORN founder Wade Rathke on the economy. WARNING: Strong Language. Your humble host is pretty angry at Schwarzenegger and the GOP for another phony budget deal based on false choices, brutal cuts, and more gimmicks that cut California off at the knees and ensure more red ink in the very near future. Wolffe's book is "Renegade", with fascinating tidbits from last year's campaign: Obama's secret meeting with Rev. Wright, and his decision to name Hillary Secretary of State even before the primaries ended. We also talked about the ways Obama has disappointed the progressives who got him the nomination. Postscript: two days after talking to Wolffe, I learned from Glenn Greenwald at Salon.com that Wolfe has left Newsweek and joined a corporate PR firm, Public Strategies, which represents Lockheed Martin and the US Chamber of Commerice, among others. My listeners deserve to know this, and Mr. Wolffe should disclose it to MSNBC viewers. Rathke describes his ideas for organizing workers and restructuring the economy, and responds to right wing critics, and Fox News in particular, who demonize ACORN. He talks honestly about his brother's embezzlement from ACORN, which has produced a wave of attacks, and phony "voter fraud" charges levelled against ACORN. Rathke's blog is www.chieforganizer.org His new book is "Citizen Wealth".