Schwarzenegger proposes to borrow his way to balanced budget

SFGate.com ^ | 1/15/08 | Matthew Yi

[NormsRevenge]

A one-trick Trojan horse.

Just what California doesn’t need.

[CaliGangsta]

“Balance” the budget by borrowing. Sure sounds like a great conservative idea to me!

[JoanneSD]

Governor Shriver.......aka Schwarzenegger

[RightWhale]

Unless the Governator has something major such as offshore drilling coming on line, he will be floating bonds that will sink almost immediately.

[TenthAmendmentChampion]

shift $2 billion of tax revenue that would otherwise be counted in the 2009-10 fiscal year to the coming fiscal year...

My accountant told me I can't do that to qualify for a new house loan... why not??

[george76]

such accounting methods plus additional borrowing would only exacerbate the problems plaguing the state budget.

[Badeye]

No posting on this thread, RD....(chuckle)

[Paladin2]

Terminator = Putz

[DoughtyOne]

Gee, I wonder what the democrat plan is. Hmmm, they don’t have one. I wonder why... could it be that Schwarzenegger has become their standard bearer? Always was you say... okay. Probably so.

[BreezyDog]

I tried that once when I was younger. It doesn’t work.

[PBRSTREETGANG]

The “covert Kennedy” strikes again.

[kellynla]

The only difference in this Liberal incompetent governor and the last Liberal incompetent governor is party affiliation...

“R U READY 4 A RECALL”(Maybe we can get it right this time!)

[george76]

“The first law of holes is ...”

[KarlInOhio]

Well, I guess not paying your bills and counting next year's taxes as this year's income is one (small) step better than counting on robots from the future bringing bags full of money with them.

I am the deficit terminator.

[DaveyB]

With Republicans like Arnold, who needs democrats?

[CoolPapaBoze]

I gotta get out of here.

[4yearlurker]

Since every politician at every level of government refuses to cut the budget (Thanks unions) more taxes,tolls and higher fees will always be the answer. How long can this go on till the economy implodes?

[umgud]

Back in the 90’s this country, and CA in particular, enjoyed a huge tech boom. Everybody was making money, including CA. What did CA do with its windfall? They spent it and raised its budget to match this income.

Then the crash. What did CA do? They tossed out Gray Davis and replaced him with Arnie.

Arnie soon found he could not over-rule a dem state legislature, so what did he do? He borrowed money to get CA out of debt.

Soon, the nation and CA revovered from the crash and was agin flush with cash. CA realized a huge windfall from their sales tax on a doubled cost of gas and other fuels. The real estate bubble created more cash

What did CA do? They spent the money and now were in another downturn and back in debt.

What does Arnie want to do to get us out of debt again?
Borrow more money and then go back to spending with the dems.

Notice a pattern here?

[NormsRevenge]

Good luck.

Send a postcard when ya find a decent place to live and not be treated like an indentured slave to a state run by socialists on steroids. There ain’t that many out there, unfortunately.