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but it is important to recognize that this $15 billion bond it is not new debt.

In what parallel universe does the HJTA operate?

If it is not new debt why is Schwarzenegger asking the electorate to authorize it?
If it is not new debt then how did we escape the previous payments?
If it is not new debt why do we have to pay? Let the original debtor pay.
If it is not new debt then why pile more debt onto the old debt?
If it is not new debt is it a freebie since it was already borrowed once before?
If it is not new debt will we still get an interest deduction on our federal taxes?

Can anyone borrow twice using the original, approved, loan application ?
How can I get in on this creative action?
Do I have to know someone on the inside?

Proposition 58, the Balanced Budget Act would bar the state from borrowing to meet operating expenses in the future -- or, as the governor says, it will tear up the credit card.

My jaw dropped at the quote you referenced. I started screaming when I read the above.

How can he say this? There is absolutely nothing to stop this legislature from doing the exact same type of short term borrowing they have done and get us in exactly the same place as we are today! Proposition 58 is a sham. And Jon Coupal and HJTA are shameless.

Question: why is HJTA lying? What interest do they have in this sham or how were they bought? I know that I will never trust another word coming out of the organization.