Prop10 - Has California gone hybrid crazy?

A $5 billion bond for clean energy

A few times per hour I'm seeing Yes on 10 commercials on CNBC. What is Yes on 10?

"Proposition 10 is a five billion dollar bond measure which will reduce California’s dependence on foreign oil; clean our air of asthma and cancer causing chemicals; and create thousands of new green technology jobs in California."

These objectives will be achieved with consumer rebates on hybrid cars, EVs and other vehicles capable of achieving 45 mpg. Additionally, it will help retire old diesel vehicles, add more renewables to the electric grid and fund research.

Hybridcarblog wants to support this measure, but with a $22 billion budget shortfall, we wonder if such a proposition good for California right now, or should bond measures be limited until this massive deficit is under better control?