"SEE, I TOLD YOU SO!"
Posted on 11/13/2009 9:35:20 AM PST by NormsRevenge
Gov. Arnold Schwarzenegger on Thursday defended $11.1 billion in new borrowing as a critical investment in the state's water future while at the same time insisting California must cut its way toward a balanced budget in the short term.
In an interview with The Bee's editorial board, the Republican governor also took aim at the state's prison employees and advocated for a constitutional change allowing California to rely more on private workers.
After reaching a deal last week with state lawmakers to bolster California's water infrastructure, Schwarzenegger is trying to build popular support for the plan, knowing voters will have the final say when they consider the $11.1 billion bond next year.
Fiscal conservatives have assailed the bond for increasing the state's debt load and paying for local projects such as $20 million for economic development in Siskiyou County where dams are being removed along the Klamath River.
Schwarzenegger defended the bond Thursday, saying the state would stagger its borrowing to reduce impacts on its overall debt load. He said the money would help leverage an additional $25 billion to $30 billion in federal funds.
And he denied that money heading toward local water projects were pork projects, as critics have suggested.
(Excerpt) Read more at sacbee.com ...
Just Spend what ya ain't got..
It's for the children..
to payoff into their gray years..
When Reagan was governor of California, he stated that there will be no borrowing. If you want to spend more money, we are going to raise taxes. “We will raise taxes until it hurts.”
Too bad he abandoned that as President, but mostly it was done to build the military (after Carter’s disastrous stripping of the military) and outspend the Soviet Union and break their economic backs. Which he did.
As a state level, make them pay taxes (FAIR TAX).
yeah folks remember keep on humping ;-) and have a lot of kids!!! (because finally someone will have to pay the bill for the current spendings)
“And he denied that money heading toward local water projects were pork projects, as critics have suggested.”
I read it invested in people not water. higher salaries, pensions, etc. smaller percent on actual water, water ways, etc.
What's the yield on one of those bad boys?
This is crazy. The state is broke and they its going borrow $11 billion more! You know the costs of this fiasco is going to be well above $11 billion.
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