Posted on 08/27/2008 5:45:56 AM PDT by kellynla
The Golden State had a recall almost five years ago. California had a huge budget deficit at the time and soon-to-be-governor Arnold Schwarzenegger was promising to cut up the credit card.
By the March 2004 primary, Schwarzenegger, by then governor, was promoting the passage of ballot Propositions 57 and 58. Prop. 57 was a $15 billion deficit bond designed to refinance the short-term debt California incurred under Democratic Gov. Gray Davis (with a few billion left over for future needs, the last $3 billion of which was borrowed a few months ago). Prop. 58 was a supposed spending cap of which Schwarzenegger said, By voting yes on Proposition 58, you are basically taking the credit cards, cutting them up and throwing them away so that the politicians over there (at the Capitol), those big-spenders, will never ever get the state into this kind of trouble again. Yea, right.
Conservative critics called Prop. 58 a ruse, saying, correctly, that it was weak and opened the way for more borrowing, spending and taxing by politicians.
With due credit to Schwarzenegger and to history, Prop. 58 was initially supposed to be an iron-clad spending cap that would have limited spending increases for population growth and inflation. Of course, legislative Democrats fought the plan, saying the cap was too restrictive because it did not account for programs such public health and welfare, in which spending often grows faster than population plus inflation.
(Excerpt) Read more at humanevents.com ...
ping
The only way to cure this problem is to repeal the income tax like is being done in Massachusetts. If you don’t flat out starve the beast, it continues to consume everything. There is no way to put the monster on a reduced calorie diet — you have to cut off it’s entire food supply.
Problem is, the People of CA keep returning tax hikers to office, that is the problem in a nutshell.
“The only way to cure this problem is to repeal the income tax”
I couldn’t agree with you more!
And while we’re repealing the CA state income tax;
lets repeal the federal income tax...heck half of Americans don’t pay any income taxes NOW!
And they want no energy development, yet bitch loudly about power brownouts.
Exactly, it is a sort of suspended reality for a huge section of Californians, “gas costs to much” and “no drilling”, a welfare state and low taxes.
I LOVE this state!
Read this for comprehension and at least admit to yourselves that you were way beyond dead wrong!!! Way, way beyond!!!
Our "Golden State is being decimated by Arnold the terrible's maladministration and an invasion of scoff-law invaders from south of the border, to say nothing of the obvious damage done by a Dem dominated legislature giving CA GANG-GREEN, as usual!!!
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