WASHINGTON -- We've heard a lot this week about what is in California's budget fix, but policy analyst Anthony Randazzo with the libertarian Reason Foundation, took a look at what got left off the chopping block: namely, billions of dollars in state-owned real estate.

"The state of California has budget issues this year, they're going to have budget issues next year, they're going to have budget issues several years down the road, and a great way for states to raise revenue without raising taxes or cutting spending is to look at what you own and see what you can do with it," Randazzo said. "Can you lease certain assets? Can you sell certain property you own?"

Gov. Arnold Schwarzenegger's May budget proposal did call for selling dozens of California real estate assets, including the San Quentin prison and the Los Angeles Coliseum. The governor's California Performance Review commission released a report five years ago detailing more than 2,000 properties owned by the state and recommendations to save the state $32 billion from measures like selling or leasing. However, under this week's budget deal, most of that seems to be on the back burner, except for the Orange County Fairgrounds. The governor's representative had no comment about what the governor would have the power to sell in this budget deal.

Opponents said a fire sale of properties wasn't a smart move for the state anyways.

"It's obviously a bad time to be selling real estate," said Robert Weissman, co-director of Essential Action, a corporate accountability group. "Auctioning off those assets is going to undermine the quality of life in the state. You may have a short-term return, because you are selling an asset, but the asset can't be used for public purposes anymore."