Governor discusses budget with Assembly Democrats

Sac Bee ^ | 12/2/03 | AP

[NormsRevenge]

After meeting with Assembly Democrats for an hour Tuesday, Gov. Arnold Schwarzenegger said he was optimistic his budget package would be approved eventually.

"We had a terrific meeting," Schwarzenegger said after the closed-door meeting. But he left unanswered whether the Legislature would be able to make a Friday deadline for placing a bond financing plan and a spending cap proposal on the March ballot.

[NormsRevenge]

.. Some, led by state Treasurer Phil Angelides, have attacked the $15 billion bond plan, saying a 30-year repayment schedule will cost taxpayers $30 billion.

The bonds included in this year's state budget would have been repaid over five years, not 30, which would save billions in interest payments.

[Simmy2.5]

And these coming from people who wanted to solve the budget crisis through BOTH higher taxes AND more bonds.