LAT: Massive (CA) State Bond Possible (Arnie now wants to be a Pat Brown)

[DeepModem Mom]

Massive State Bond Possible
At a cost some peg at $50 billion or more, Schwarzenegger seeks an infrastructure program reminiscent of the Pat Brown era.
By Evan Halper, Times Staff Writer


SACRAMENTO — Coming off a losing campaign to curb state spending, Gov. Arnold Schwarzenegger is promoting a statewide public works program that may be financed by a bond sale so large it would dwarf previous state borrowings.

The governor hopes to join with Democratic leaders and businesses to address Californians' growing frustration with clogged roadways, polluted water, hospital shortages, overcrowded schools and, in the wake of the devastation in New Orleans, inadequate disaster preparedness.

Schwarzenegger is seizing an issue with wide bipartisan support in an effort to restore his image as a moderate, although his plan threatens to cause tension with some conservative allies who have long warned against more government borrowing.

If he succeeds, Schwarzenegger could reposition himself in the model of former Gov. Pat Brown, who by the time he left office in 1967 had created a legacy of roads, waterways and universities that continue to help drive the state economy today.

"What I've said to my team is … give me the whole package: highways, freeways, bridges, ports, the levees — everything that has to do with infrastructure that will upgrade the state," Schwarzenegger said in a recent interview....


http://www.latimes.com/news/local/la-me-sacto14nov14,0,6247774.story?coll=la-home-headlines

[AlCzervik]

1. Trip tp China=please China, buy California bonds.

[olddad56]

2. If Arnold was interestd in curbing spending,...

he'd slow down the hiring of state employees and possibly take less than 60 staffers with him to China.

[jamesinca]

3. $ 50 billion!!!

I think there is something irresponsible in the way Arnold does things. If he is doing this to be looked at as a moderate I hope it fails. If he is doing this to actually help California then he needs to do it with available money not create more debt. He has shown what he likes bond measures for when he got $15 billion to balance the budget. It fixed nothing, it just added a $15 billion tag onto the the debt. Raise the taxes on the extremely wealthy and pay for it in parts, only after you balance your budget though. Don't create more debt tomorrow when you can't even pay your bills today.

[sandnsea]

4. Prepare for the Future

With new energy, transportation, emergency preparedness, etc. This is a 1960 infrastructure for a 21st century world. That's the path to bankruptcy, not a foundation for economic growth.

[pushycat]

5. He should have pursued the $9bn Gray Davis lawsuit when he

replaced the former Governor. That would have really helped out the state as well as make him unbeatable.

http://www.democracynow.org/article.pl?sid=03/10/06/160254

<snip>Investigative reporter Greg Palast reveals how Republican gubernatorial candidate Arnold Schwarzenegger is part of a larger scheme to help Enron and other power companies avoid paying back $9 billion in illicit profits by replacing Gov. Gray Davis.<snip>

[tularetom]

6. Not that this isn't needed

but it would have gome over a lot better if he had done this before the voters whacked his peepee over his stupid special election, and before his earlier $15 billion bond issue which basically used the states master card to pay off its visa. Now it just reeks of desperation.

[realFedUp]

7. I guess that's what pumping us up means....

pumping up the deficit and budget woes in CA.

Can we terminate this guy before next year?

[lakeguy]

8. i don't get it, first it's "we need to curb spending" and now he want's to

give it away. nice flip flop.

[Initech]

9. So how does Ahnuld plan to go about acquiring all this cash?

The article was unclear on that...

[Toots]

10. If he begins to champion democratic causes he may just get reelected

Hell he may even switch parties depending on the way the wind begins to blow. He is a powerful figure and it would be good to have him on the people's side instead of Huge Special Interests Groups.

[Charlie Brown]

11. Arnold gave the highest-profile speech at the Repug Convention

and from what I've seen has bent over backword for big-business in CA.

He championed the Union-busting proposition and vetoed gay-marriage.

At this point, it would take a whole lot to endear him to Dem voters.

[Toots]

12. Remember when Ariana Huffington and David Brock were fanatical GOP

Sometimes things change.

[CreekDog]

13. I said a week ago, I was wondering when he would do this

Last month, Arnold said a few times that if his propositions didn't pass, he would need to raise taxes.

I had this crazy idea that he made a deal with the wingers to become governor, he would have to play their game. However, now he can argue that it didn't work and he is free to do what he wants. That is govern as a moderate. This may be wishful thinking, but I've always thought he was more comfortable doing this. He is not GW Bush, after all.

If he takes a step in the right direction, I don't care if he does it as a Republican, as long as someone does it.

[davidinalameda]

14. pretty ambitious

and right before an election year as well

I'd have to say no to the plan

it's nothing more than a political gimmick

[Timmy5835]

15. Bottomline...Arney is toast

The Dems in NO way will help him shape up his image. He's TOAST.