[calcowgirl]

Well, Tom is running for Lt. Governor and will hopefully get some support from the CAGOP this time around. I suppose he is trying to look at the bright side and bite his tongue a bit on the negatives.

To fund last years budget, in addition to the huge Prop 57/58 borrowing, Arnold borrowed a bunch of money from education, transportation, and local governments. Ordinarily, these dollars would have to be paid back over the next couple of years. What this Prop does is to authorize bonds for repayment to the respective funds and then provides for the bonds to be paid back over the next 15 years. As such, more near-term budget revenue is freed up to spend on other things (avoiding cuts and/or tax increases).

I don't think Arnold has any intent of making deep cuts. He is just looking for an excuse to raise taxes. If Prop 76 doesn't pass, he can use that as an excuse.

[Czar]

"What this Prop does is to authorize bonds for repayment to the respective funds and then provides for the bonds to be paid back over the next 15 years. As such, more near-term budget revenue is freed up to spend on other things (avoiding cuts and/or tax increases)."

I keep looking for a reason to say YES on Prop. 76 and you continue to give me reasons for voting NO.

So far it's a NO.