Posted on 04/29/2002 3:13:02 PM PDT by ElkGroveDan
Remember last fall, when Sacramento predicted that the state budget deficit might hit $10 billion? In January, state officials revised their estimate upward to $12 billion, and then to $17 billion in March.
Upon further investigation, Gov. Gray Davis and his accounting wizards have had to readjust those figures once again. This time, they say, the budget hole will probably fall in the $20 billion to $22 billion range.
Or something like that.
The final damage is hard to estimate because Davis, instead of getting serious about scaling back state spending (which has swelled by 36 percent under his watch), has decided to play the accounting shell game.
By fudging numbers and cooking the books, Davis consistently presents overly rosy budget scenarios, thus postponing his and our day of reckoning.
Davis` opponent in November`s election, Bill Simon, has repeatedly pointed out the folly of that approach. Reactive budgeting, Simon warns, forces leaders to chase after revenues and scramble at the last minute.
Davis should know a thing or two about the perils of postponing problems today in return for crises tomorrow. It was his procrastination that gave Californians last year`s energy fiasco, which contributed greatly to this year`s budget disaster.
Now Sacramento doesn`t have enough cash on hand to pay its bills, so state Controller Kathleen Connell has proposed borrowing $7.5 billion (possibly as much as $11 billion) for the summer. That`s on top of the $12.5 billion in bonds that Sacramento plans to sell to repay the general fund for last year`s energy purchases.
Clearly, Davis hopes that he can borrow and bob his way out of the budget mess until Nov. 5, then deal with the consequences after the election while hoping the economic recovery is stronger and faster than most economists believe.
As a political strategy, it might work, but only if voters don`t catch on before then. Economically, it`s dangerously shortsighted, and it will cost the state millions in interest and bond-insurance fees.
It`s a gamble, and has no other purpose than Davis winning re-election. It`s appalling that he would take such a selfish course at the expense of the people of California. It`s even more appalling to think the Legislature will go along with it.
And it`s downright scary that voters may ratify this high-stakes gamble come November.
He and his tax and spend and spend and spend socialist buddies in the legislature work 24/7 coming up with ways to buy votes with our tax $'s. There are never any budget cuts and eliminating the dark side cults funded by our tax $'s.
They just scheme and plan on new ways to raise taxes or write new bonds, a shameless parlor trick to pass on reckless spending to our children and grand children.
SAVE CALIFORNIA, ABORT DAVIS!
Davis is Enroning the State of Kali!
Davis is Enroning the State of Kali!
Davis is Enroning the State of Kali!
This bears repeating.
and bump to everything else you said, too.
My dad was born on the 5th of July, and his aunt who raised him said that he was all ways late except when it was meal time!
And if the federal government won't guarantee the loan, Davis will attack the mean-spirited Republican Congress, greedy Enron executive and George W. Bush who want to kick old people out of their homes, starve children to death and reap millions of dollars in profits on the backs of oppressed women, gays and peoples of color. And the people in this state will believe it!
I swear, we get what we deserve in California.
I wonder which he'll attempt in an election year....
I don't understand why this guy wants re-election - he can't do his job and should hand it over to someone who can.
Or does he simply want to hand Simon the poisoned chalice? Simon may have little choice but to drastically cut spending (or even raise taxes) if he's elected, which could start him off on the wrong foot with everyone.
D
Davis is hoping that he can lie long enough so that he's re-elected, but then he'll propose the biggest tax hike in state history. Unfortunately, Simon might have to do the same thing, because the Legislature isn't going to cut spending much, if any.
Simon will be in serious trouble as soon as he wins. The legislature will still be overwhelming Democrat, and the mess that Davis left can't be fixed in a single term as Governor. That's a real problem.
Just about sums up everybody's fear.
APPALLING, definitely. But, not unexpected from 'DOOFUS' and his 'comrades'.
If that happens, this state will more resemble a third-world tyranny than a state of the union.
Forget about the right to keep and bear arms. If Davis gets in, there will be a ban and confiscation of firearms before his term ends.
And freedom of speech. . . only if you're gay, dress up in a diaper and parade up and down the street shouting, "We're queer! We're here! And we're in your face!"
But then, this is already happening.
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