But inside the big domed building just down the street from Chiang's office here in Sacramento it's jeers, not cheers. And the political and legal battle surely to be launched by the actions of the state's chief financial officer add yet another historic footnote to a budget season chock full of noteworthy moments.
All eyes are going to be on the state's chief financial officer to see whether he stops paying the salary and expenses of legislators.
As Governor Arnold Schwarzenegger hits the road to talk to groups around the state about the stalled budget talks here in Sacramento, he keeps telling audiences that California has no reserve "rainy day" fund.
It's a statement that, one assumes, proves the need for systemic budget reform before he signs any new spending plan for the now 29 day late budget.
But it's also hard to square with the past.
Most budget watchers will tell you that 2004's Proposition 58 bans borrowing to pay off deficits. But what constitutes deficit borrowing? Welcome to the world of state budgeting.
Governor Schwarzenegger said today that the ban includes an Assembly Democratic proposal to help close the current deficit through a 20 year financing plan.
"It's illegal," said Schwarzenegger in a quick chat with reporters after an unrelated event this afternoon. "Under Proposition 58, we cannot borrow."