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To: ElkGroveDan

I would say that the $10 billion (or more) California taxpayers spend on illegal aliens, and that is not counting their anchor babies) would make a very nice down payment on infrastructure repairs, etc.

When they stop supporting Mexico's citizens maybe I will support California spending more money......period.


6 posted on 10/30/2006 9:49:05 AM PST by sheana
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To: sheana

In 1988, California had about $4 billion in long-term debt.

Now, California has over $40 billion in long-term bonded indebtedness. These new bonds, if all pass, will add a huge amount of new debt on top of the $40 billiion.

California's credit rating is going to sink. Government bonds are rated similar to companies or your own personal credit rating, i.e. how much debt do you have related to income, what is your record of paying bills, etc. If all of these pass, California will have added so much debt that the cost of borrowing will go up, because as a more risky borrower, California will have to pay more interest.

Certain business fundamentals, income and expense, balancing a budget, etc. are important, and too often , people who urge passage of big bond issues aren't thinking long term.


7 posted on 10/30/2006 9:57:34 AM PST by Dilbert San Diego
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