What pundits and policy wonks say about state budgeting

These are relatively true.

But there are misconceptions here, as well.  For example, the state budget timeline looks as if it were “bottom up,” but in many states and large local jurisdictions the “budget call” guidance is very restrictive, turning the process into “top down.”  Also, the claim about balanced budgeting is subject to uncertainty. Budget balance may mean less than it seems.