Photo by Casey Christie
Build Build Build
It'll pay for itself in the long run.
Posted on 05/10/2006 11:02:03 AM PDT by NormsRevenge
Gov. Arnold Schwarzenegger stopped by a Kern County highway junction Tuesday to promote what he called a "historic" $37 billion bond package for education, housing, levee repair and transportation.
State Sen. Dean Florez, D-Shafter, left, joins in with California Gov. Arnold Schwarzenegger, and Bakersfield Mayor Harvey Hall, right, along Highway 99 and Highway 65 gaining support for an infrastructure bond on the November ballot. The program calls for $1 billion in improvements to Highway 99.
The bond package, passed by the state Legislature Friday, needs only to be signed by the governor to be put on the November 2006 ballot. If approved, it would be the largest bond package in the state's history.
Schwarzenegger was flanked by other speakers Bakersfield Mayor Harvey Hall, state Sen. Dean Florez, D-Shafter, and state Rep. Kevin McCarthy, R-Bakersfield. They spoke behind a podium that proclaimed "Investing in California's Future" and in front of the intersection of Highways 65 and 99.
"This is the year for rebuilding California," Schwarzenegger said.
The governor held his news conference next to Highway 99 because $1 billion in the proposed bond measures are expressly devoted to upgrading that highway.
"(Kern County residents) were sick and tired of being stuck in traffic," the governor said.
The bond measures have four aims: $10.4 billion to improve education; $2.9 billion to make housing more affordable; nearly $4.1 billion to repair levees and improve flood control; and $19.9 billion to fund road repairs and reduce congestion, leading to better air quality, the governor said.
Spokespeople for the governor provided handouts that specified what Kern County might get if the bond measures are passed by voters.
The beneficiaries might include Greenfield Union and Rosedale Union Elementary school districts for new school construction.
Two hundred million is proposed for school bus retrofitting to reduce air pollution and exposure to diesel exhaust.
Florez's support for the measures stems in large part for the bus retrofitting; he said cleaner air and healthier children will be the benefits. He added that this fall he plans to campaign with the governor as Schwarzenegger promotes the bond measures.
Schwarzenegger acknowledged Florez's support for the measures, saying that the bond measures show that Democratic leaders like Florez -- who the governor said bench-presses an "amazing" amount of weight -- and Republican leaders like McCarthy can work together in bipartisan spirit.
Hall, who Florez called "the finest mayor in the state of California," also urged voters to support the bond measures that hold "extreme value ... for everyone."
Schwarzenegger began his day in Chico, then traveled to Merced, and headed back to Sacramento after his local visit.
It was the second visit by the governor to the Bakersfield area in little more than a month; he hosted a round-table discussion with women business executives in Bakersfield on March 29.
Build Build Build
It'll pay for itself in the long run.
It's all about investing, yaknow.
Video link above didn't work , for me anyway.
Why not $370 billion? Why so cheap, (R)-nold?
Here's a link with a bunch of info re: California Outstanding Debt.
http://www.treasurer.ca.gov/bonds/debt.htm#apr_06
includes General Obligation and revenue Bonds info.. at the bottom is the April 2006 summary total
http://www.treasurer.ca.gov/bonds/debt/4-05/sum.pdf
Estimates run anywhere from a 5 to 10B deficit the next few years unless some major changes occur... who knows beyond that.
Don't hold your breath in anticipation tho. ;-).
There are definitely some areas that do need work and new infrastructure, quite a bit of repair is needed in others, the tough part of this much money flowing is keeping costs down, which they won't be with prevailing wage rules etc. built into the package.
All the proposed subsidized crap is just that when it comes to more housing subsidies and more development in flood plains on the taxpayers dime..
At least California gets a lot more open discussion about their huge transportation packages than Texas...
That is a lot. How does it compare with last year and the total revenues of the state?
They just found out today that expected tax revenues this year will be 5 billion above their forcast.
Women and children of color hurt most.
Sounds like a windfall. Spend it, quick!
Revenue is up a few billion, the deficit still is running at maybe 5-6B this year again,, the rate of spending has remain unabated, for the most part.
Part of the bump of late in state income tax revenue was Google induced, it will have little long term impact in reducing the deficit at the current burn rate, however, imo,
Here are links to a couple Excel sheets off of the Cal. legislative analyst's site.
State of California Revenues, 1950-01 to 2006-07
http://www.lao.ca.gov/sections/econ_fiscal/Historical_Revenues.xls
State of California Expenditures, 1984-85 to 2006-07
http://www.lao.ca.gov/sections/econ_fiscal/Historical_Expenditures_Pivot.xls
FRom the state finance site..
Summary Schedules from the Governor's Budget
http://www.dof.ca.gov/Budget/BudgetInformation.asp
The GUb is already floating a trial ballon to see if paying down the debt with most of that "windfall" will get him some conservative votes. shoring up the levees is kind of like shoring up one's base these days.. ;-)
CA: Revised budget plan leaves out payment of 'loan' to schools
San Diego Union - Tribune ^ | 5/10/06 | Ed Mendel
http://www.freerepublic.com/focus/f-news/1629866/posts
I'm not so sure. The California plan that is not yet being discussed was another bill they signed last week for Toll Roads and Public Private Partnerships. It sounds a lot like the Trans-Texas Corridor.
AB 1467: Transportation projects: facilities: public-private partnershipsIt looked like a stealth process to me. They voted on it last Thurs/Friday and passed it, despite not making the text available as they usually do. Until yesterday, the only thing available on the State website was the votes--no text whatsoever. Yesterday, they updated the State website to show the final language--as enrolled (only). Today, they updated it again to show the Amended language dated last Thursday. (All other bills were posted last week). The amendment shows they took a defunct bill and did a "gut-and-amend." It was put it to legislators for vote with many of them complaining they had no time to read it, let alone understand it. Sleazy tactics, for sure.
Campaign donations = investment
Gov spending borrowed dollars = return.
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