[SierraWasp]

Welcome to Armegeddon... NOT!!!

[Enterprise]

I fearlessly predict that the bond measure will FAIL! The voters want the State to cut spending, and show proof that all has been done to make the State financially responsible, and THEN come back and talk about a bond.

[SierraWasp]

"If the governor's bond is rejected, the state simply would continue with the budget signed by former Democratic Gov. Gray Davis before he was replaced by Schwarzenegger, a Republican, in an historic recall election last fall."

So what we're getting here is "politics as usual" and some here facitiously accuse others of having wanted to retain Davis, or even elect BustedMonte because of out support for a righteous conservative in the Recall.

If what this writer is saying is true and we end up with a Dufus Budget... all the internal catfighting on FR was but a fart in a whirlwind!!! (aka, peeing into the wind)

What an absolute exercise in futility!!!

[junta]

How are they going to pay for all the new immigrants who come to do jobs that Americans won't do?

[Mad_Tom_Rackham]

Refuse to cut spending and then try to circumvent the existing law that was enacted to prevent one generation from passing it's consumption spending liability on to the next generation. Threaten a tax increase and still refuse to cut spending. There's sound fiscal management. </ dripping sarcasm>

[William Tell]

From the article: "The $10.7 billion in bonds would be paid off over five years bya half-cent of the existing sales tax. Because bond payments would be appropriated each year by the Legislature, the argument is that it's not long-term debt. "

The trick for our fantasyland politicians is to pick a judge who believes that it depends on what the meaning of the word "is" is. They will probably succeed in finding a judge who believes that a "bond" is not long term debt if one has to decide each year whether to make payments on it. What liberal nonsense.

Thank goodness we have a Republican in the .... Oh, never mind.

[FairOpinion]

I guess California going bankrupt is not considered chaos?

[FairOpinion]

I guess the author doesn't like to be bothered by the facts.

Here is what Donna Arduin's analysis and assessment shows:

"The state will still have to borrow to cover its debts if voters do not approve the $15 billion bond measure that is a centerpiece of Gov. Arnold Schwarzenegger's economic plan, Finance Director Donna Arduin told business leaders Thursday.

If the bond measure does not pass, the state would not have time to either cut spending or raise taxes before $14 billion in short-term debt comes due in June, Arduin told a California Chamber of Commerce luncheon crowd.

The state would probably have to roll over the debt by issuing more short-term bonds, which is what Schwarzenegger hopes to avoid by using the one-time, $15 billion bond to pay off past deficits, she said.

"Rather than having the kind of borrowing that's usually done in California, we're asking for voter approval, and we're asking to do it in a way that will have the most market strength," Arduin told reporters afterward. "We're also putting language in front of voters that says this will never happen again."

http://www.sacbee.com/content/politics/story/8109875p-9042119c.html

[marsh2]

Though it is hitting mostly rural folks, we are already seeing a local backlash as folks are getting bills from regulators to pay for the cost of the bureaucracy to regulate them.

DWR is passing down the full cost of watermaster service (including Sacramento overhead;) ma and pa stores with propane are being sent bills for the cost of "hazardous waste" inspection from public health; permitted water right holders (dams, ponds, springs, post 1914 water use rights,) are getting bills from the State Water Resources Control Board to cover regulatory costs. In the meantime, we have discontinued most of our predator trapping service becauise the state no longer pays a share and the feds doubled the pass through cost. The Air Pollution folks have cut off the use of burn barrels. California Department of Rorestry and Fire Protection is going to charge folks $35 on their property taxes for their services. The cost of a streambed alteration agreement (used for irrigation) is also about to skyrocket.

Talk about increased taxes - well rural folks are being bombarded with them - only they are called "fees."

[antaresequity]

damn...I thought this was a call to arms...ugh...

More waffles and yogurt...

Let me know when its REAL

[Redcloak]

Burn, baby, burn.