Hoooo-weee. I better get on this since today is Election Day.
Proposition 25 changes the majority needed to pass a budget from 2/3 to simple. I think this is easily summed up with a quote from the provided analysis, "Given the current composition of each house, this would allow members of the Legislature's majority political party to approve a budget bill without the support of any members of the minority party."
The entire bill is centered around letting whichever party holds a simple majority do whatever the heck they want with the budget. That's a big fat "NO" from me.