CA: Budget Plan: What Will it Cost You?

CBS via KPIX.com ^ | 03-03-2004 | John Lobertini

[calcowgirl]

Now that Californians have passed Governor Schwarzenegger's economic recovery plan, what does it mean to taxpayers?

Treasurer Phil Angelides, a critic of the $15 billion budget bond, told reporters that the measure will cost every family $1600 -- between cash out-of-pocket and money pulled from programs or raised through higher taxes.

The interest on the $15 billion loan could cost anywhere from $4 billion to $6.5 billion. Critics argue that's the equivalent of 400 elementary schools, but the landslide victory gives Schwarzenegger some clout.

"He needed the strength of this big victory to show to the legislature and say, 'Look, I'm a strong individual. I have the people behind me. Don't mess with me,'" said political consultant Steve Swatt.

But Senate President John Burton, D-San Francisco, was quick to point out that this was a bipartisan effort.

"If it were not for the Democrats, the bond would not have even been on the ballot," said Burton.

Meantime, Burton says the governor's toughest battles are still ahead.

"There are a tremendous amount of cuts in the governor's budget right now that we hope to restore," he said. "If we have to find money by raising taxes on upper income people or closing loopholes that's probably what we'll do."

[calcowgirl]

Here we go again!
The bonds enabled the dems... now they are empowered!

[calcowgirl]

ping

[farmfriend]

The bonds enabled the dems... now they are empowered!

Which Dems? The ones with Ds or the ones with Rs?

[Amerigomag]

"There are a tremendous amount of cuts in the governor's budget right now that we hope to restore," Burton said. "If we have to find money by raising taxes on upper income people or closing loopholes that's probably what we'll do."

Hello.

Hey John, the local governments you and the gov are screwing are going to beat you to it, except they're raising taxes on all income levels (sales taxes, school bonds, "safety" bonds).

PS, Don't tell FairOpinion. He's had enough troubles recently accusing folks of spreading misinformation about the effects of Prop 57/58.

[Lancey Howard]

Isn't that scumbag Burton due to be termed out soon?

[FairOpinion]

Why is it a surprise to you that Dems want to get back to their unrestrained spending? You were quoting Burton!

[calcowgirl]

I think John wants it all.

Bonds, fees, gas tax, city tax, county tax, parcel tax, library tax, educational bonds, tax on upper income, etc.

Oh yeah, and now we'll sell off the state assets so that he can spend that too!

[Ernest_at_the_Beach]

Their would have been the same if the bonds had failed.

They would say we must raise taxes to pay off the deficit!

And they would!

[Ernest_at_the_Beach]

Treasurer Phil Angelides, a critic of the $15 billion budget bond, told reporters that the measure will cost every family $1600 -- between cash out-of-pocket and money pulled from programs or raised through higher taxes.

I have seen that statement over the last few months, without any time factor associated with it. Isn't that over the lifetime of the bonds? So if the bonds are paid off in 10 years then it is $160 per year or less than $15 per month.

[calcowgirl]

Isn't that scumbag Burton due to be termed out soon?

Not soon enough! (he terms out this year.)

[calcowgirl]

I don't remember exactly... but I think you have it right.
I remember a number of $2000/household for a 15 year period.
So $1600 for 10 years is certainly ballpark.

[NormsRevenge]

scumbag Burton .. term limiting out . lol..

Yup ,, soon he can be a lobbyist just like most of his cohorts in crime over the years.

[Digger]

Quit the dem bashing. Your pubbie guy propose this & wanted this as much as the commies in Sacramento. Problem is you pubbies wanted a RINO in office so live with it. Thanks again Ahrnold for doing the easy out. Thanks again to your chairman David Drier who gives republicans a bad name- (do any macarina with the Hildebeast) Thanks again to the "Two-Party Cartel" who only come together on bi-partisan issues when it takes money from the taxpayers to give to the elites. I hope you all suffer in he!!.

[Carry_Okie]

Your sentiments are correct, but your target, (NormsRevenge) was a McClintock supporter. Best you direct that venom to where it belongs.

[William Tell]

Digger said: "I hope you all suffer in he!!."

I fear that you may get your wish.

Some of us, however, are a little calmer because we see that the alternative to Arnold was not McClintock but Davis.

This is just what the Arnold supporters were saying, but for a different reason. They wanted to believe that Arnold would make a difference. Just wait and see what the liberal press is going to do to Arnold now that we can afford not to make the draconian cuts Arnold was suggesting. Life is going to be wonderful in Kalifornia again, real soon now.

Is anyone taking bets on when, or if, Kalifornia gets a budget passed for next year? If the Republican minority in the legislature holds the line on tax increases there is going to be an incredible stalemate in Sacramento.

Can someone provide some clues as to what will happen after the new budget is due but none has been passed? I'm gonna have to stock up on popcorn. This is going to get entertaining soon. I'm personally betting that we somehow continue going into the red at least until next February before the checks start to bounce.

At that time, we will owe the $15 billion dollars in deficit bonds and an additional $10 billion dollars in deficits racked up while Arnold was governor. We are going to be so proud.