Posted on 07/27/2004 8:23:51 AM PDT by NormsRevenge
SACRAMENTO, Calif. (Reuters) - California Gov. Arnold Schwarzenegger and top state lawmakers reached agreement late on Monday for a balanced budget that would maintain existing service levels and not raise taxes.
The Republican governor and top Democratic and Republican legislators described the agreement, which followed a sometimes bitter three-week delay, as "a bipartisan budget." Based on Schwarzenegger's $103 billion spending plan, the budget for the fiscal year that started July 1 would restore some transportation funding and hold down certain fees.
"We have just agreed on a budget," Schwarzenegger told reporters at a late-night news conference in his office. "We negotiated very hard."
A vote of the full Legislature, which is controlled by Democrats, would be held on Wednesday or Thursday, lawmakers said.
During recent talks to reach an agreement, an angry Schwarzenegger called Democrats "girlie men" for not backing his spending plan and not meeting the July 1 deadline.
California's Legislature in recent years has not delivered a new fiscal-year budget by the deadline. Schwarzenegger, who vowed to end business as usual in Sacramento during his election campaign last year, had promised to meet the July 1 date for a new spending plan for America's most populous state.
Earlier on Monday, the state's chief financial officer said California would be unable without a budget to make half a billion dollars of state payments starting on Wednesday because of the budget impasse but should avoid any further Wall Street downgrades.
Budget negotiations had reached a stalemate over funding to local governments, but Democratic state Senate leader John Burton told Reuters earlier on Monday the issue had been resolved.
"We all had to agree to things we do not like," Burton told the news conference.
Schwarzenegger said a budget deal looked impossible six weeks ago but that prospects brightened in the past two weeks.
"We just hung out enough together," Schwarzenegger said. "Eventually everyone got it."
Lawmakers attending the Democratic National Convention in Boston had earlier been put on notice they could be called to return to California for a budget vote.
You bet the Girly Maggots reached agreement.
Not only could they lose their seats, the DNC would probably put out contract hits on them.
If this had gone into the late summer and fall, Arnold would have handed California to GW.
I predicted this would happen when we first heard about it.
The other gag order (pardon the pun) from the Komrade Kerry Kamp to the Girly Maggots, "Drop the gay marriage agenda until after the election~"
How much did Arnold give in to the Democrats?? Did the girlie-men make a girlie-man out of him?
As I predicted, the Girly Maggots, whined and then swooned to what the Governator wanted re the budget.
Now get out the red pin and cut out $5BN PORK money.
I see no reason to applaud what has been bestowed on the taxpayers and businesses of California.
The girlie men comment was nothing more than theatics and has not saved this state much if anything the way of funds at all.
I'm off to help my clients to back up the truck to the Wall Street loading dock in time for the re-election rally and to help them take "ownership and control" of their health plan with their own "Health Savings Account!"
Just doin my part to promote the President's new "OWNERSHIP SOCIETY!!!"
HUH?
Check your freep mail about the Austria economy which is booming while France and Germany's is tanking.
Austria had a big tax cut this year and a bigger one is coming next year.
The Austrian etf to take advantage of this is EWO.
Run EWO through a stock charting system and see what tax cuts and budget controls do for an economy.
We are bailing out of the main Euro funds and backing up the Bronco to get a fair share of EWO. It has been an excellent etf fund stock for at least 5 years.
just think massive borrowing...
Just wait until next year
The stage is set.
I like this guy.
Now for the true test of Arnold's governorship, will he exercise his line item sword? And how aggressively? I'm hoping for "Conan the Barbarian: Destroyer of Girlie Man Pork Spending". We shall soon see. Anyone know how many days he has to take action?
You can have him, imo. lol
You already got a shipful of libs. ;-)
How much borrowing is in this budget? It's huge, and it "maintains current service levels without raising taxes". Sounds like borrowing to me.
there was a 17 billion dollar gap supposedly so take the 15 billion dollar bond measure and add 2 billion more on top of it, that 2 billion came from somewhere.
mix in the 4 billion that were given back when the DMV fees were rolled back, and then add the mystery fudge factor and how local gubs gave up a couple billion and the unions did temporary givebacks for considerations later, ..
God, what a mess. And this budget is trumpeted as a great thing.. I am waiting to see some comments of the few who are in the legislature and see the folly of this charade.
I am seriously worried about the state of California's finances. The legislature (and apparently Arnold) are incapable and obviously unwilling to make any cuts in the budget. The legislature has locked in so much spending, it'll take real courage to do what it takes to cut programs, commissions, pensions yadda yadda yadda. And what do I hear from people like Tom Torlakson (my state senator, unfortunately) is that taxes will need to be raised. These greed SOB's are only looking for more money from the taxpayers so that they can keep handing it out.
The day of tax revolt is coming. Prop 13 is in the sights of these tax and spending feeel-gooders. We may as well just our paychecks to te state, They are going to take most of it anyway.
This continued march down the road of entitlements, special interests, lobbyism and just plain stupidity must be confronted... Now.. for the children. Ha!
"Beware the greedy hand of government, thrusting itself into every corner and crevice of industry." -- THOMAS PAINE
Zero based budgeting is the best answer, along with some respect for productive people, with diminish status as taxed to death, piss-poorly represented "Citizens!"
The real question is... can we possibly elect such sensible, pursuasive individuals to the highest constitutional offices in CA??? Today's SacBee.com is full of interesting guest editorials and articles!!!
I'm so proud of our Repellican Governor I could just... well, nevermind!!! Thank the Lord Jesse Ventura didn't call himself a Republican, anyway... E-Gad!!!
I guess Arnold's motto is "Do something, even if it's wrong and only get upset if it doesn't get done on time!"
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