Posted on 11/14/2005 7:06:19 AM PST by NormsRevenge
SACRAMENTO — Coming off a losing campaign to curb state spending, Gov. Arnold Schwarzenegger is promoting a statewide public works program that may be financed by a bond sale so large it would dwarf previous state borrowings.
The governor hopes to join with Democratic leaders and businesses to address Californians' growing frustration with clogged roadways, polluted water, hospital shortages, overcrowded schools ...
Schwarzenegger is seizing an issue with wide bipartisan support in an effort to restore his image as a moderate, although his plan threatens to cause tension with some conservative allies who have long warned against more government borrowing.
If he succeeds, Schwarzenegger could reposition himself in the model of former Gov. Pat Brown, who by the time he left office in 1967 had created a legacy of roads, waterways and universities that continue to help drive the state economy today.
"What I've said to my team is … give me the whole package: highways, freeways, bridges, ports, the levees — everything that has to do with infrastructure that will upgrade the state," Schwarzenegger said in a recent interview.
"Give me the whole plan and all the options of how to finance that…. Let's not Mickey Mouse around here and try to introduce a $5-billion bond to fix transportation. It's bogus. Or $10 billion. It's bigger than that."
The governor has not decided on an amount. But groups that have been working closely with the administration say the price tag could be $50 billion or more.
--snip--
Business groups acknowledge that the state may not be able to sell such a large bond issue unless lawmakers and voters alike go along with a tax increase to back it up — perhaps a quarter-cent or half-cent sales tax or billions of dollars in new user fees that could affect businesses.
(Excerpt) Read more at latimes.com ...
hmmm.. Are those icebergs I see in the distance or is it Mr. FReeze?
I'd go to China too if I knew this trial balloon was gonna be floated.
I don't think "possible" is the right word.
Maybe with each $1,000 in bonds they can also provide you with your own illegal allien.
SPEND, TAX, SPEND, TAX, SPEND, TAX, SPEND, TAX.
The bane of California.
I hope this puts to rest the notion that so-called "moderate" Republicans are something called "Fiscal Conservatives".
Liberals are liberals, period.
I.e., he has no intention of aligning himself with the GOP.
DON'T DO THIS, ARNOLD!! DON'T DO THIS! DON'T TAKE THE FALL FOR THE SACRAMENTO CLOWNS!
Liberals are liberals, period.
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Yes. And the liberal disease has spread too far. We can afford to spend TENS OF BILLIONS on illegal immigrants and massive WELFARE PROGRAMS, but we must borrow and tax the citizen even more.
This is insanity, LIBERAL insanity.
Even Simon proposed about $35 billion in infrastructure spending. What concerns me is the intent of this "investment." I'd bet the farm it's a real estate scam, in more ways than one.
move
Possibly just helping KA distroy itself a little faster.
Got moving van?
lol, Thanks, I would , wifey is almost ready to..
I see this as a scorched earth tactic. Arnold has lost the socialist spending battle. As he retreats he turns California's remaining credit limit into highways, freeways, bridges, ports. It's better than letting the socialists go to town wasting the borrowed money. It's the best he can do.
Perhaps CG, but there's an alternative interpretation based on Bush's performance: sink'em in so deep in debt that future entitlement programs will have to be jettisoned to meet the debt service... a variation of trickle down!
Half of one year's complete budget in one bond sale...
Ah, no thanks.
I wish I owned Nevada real estate, and a moving van company.
Get out while you still can.
But...but...you must elect Republicans no matter what. Do you really want Democrats to win? Go back to DU troll! < /FairOpinion >
Not a good plan for a Republican.
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