Schwarzenegger Seeks Controversial $15 Billion Bond

[Socialist Christian]

http://story.news.yahoo.com/news?tmpl=story&cid=584&ncid=584&e=6&u=/nm/20031118/pl_nm/politics_california_dc



<snip>
SACRAMENTO, Calif. (Reuters) - Gov. Arnold Schwarzenegger (news - web sites), saying he had "strong resolve" to cure California's fiscal woes, on Tuesday proposed a record bond issue of up to $15 billion to fund the state's budget deficit.




The proposal was unusual not only in its massive size but in its focus. Voters are usually asked to support bonds for specific future spending projects such as schools or roads, rather than to cover past deficits.


A top California Democrat expressed concern about the bond plan.


"It's morally and fiscally wrong to ask future generations to pay for today's debt," said state Treasurer Phil Angelides, a Democrat running for governor in 2006. "In the first 24 hours of the administration we are moving in the wrong way."

[Shakespeare]

1. I was polled about this the other night...

And it was a classic push poll. Wonder how many less-informed people they hoodwinked into giving the desired answers.

[Purrfessor]

2. Arnold originally said he wouldn't cut education spending.....

but now that he's in charge, apparently his promises mean nothing:


"I'm asking voters to approve up to a $15 billion bond to consolidate the debt accrued by the reckless spending in recent years. It will allow us to move forward to recovery without cutting the schools."


So it's either we vote for the bonds, or schools get the ax. He's beginning to act just like Jeb.

[Noordam]

3. Typical Repug Charge and Spend is all they know how to

do......

[rustydog]

4. "Borrow and Spend" friggin'Republican to the bone.

Biy, Aahnold is a breath of recycled air in Sacramento isn't he?

[The Zanti Regent]

5. VOTE NO ON ARNOLD'S BORROW AND SPEND

Make Der Übergropper raise taxes on his rich friends to pay the bills!

[Exultant Democracy]

17. I will not raise your taxes...

but I'll sure fuck your kids over. What a slime ball he had better not get away with this shit.

[E_Zapata]

6. Wow......now, all the big Arnie fans.....who are also dems

(disclaimer: I am sure there are none on this board!)

Do you have any feelngs at all about Arnie's decision to essentiall BORROW to pay a debt?

Wasn't he saying that he wanted to get that 5th largest economy MOVING?


Wow......I didn't even think he would suggest anything about anything.

In 24 hours, he has MADE the state of calif close to 20 billion! $15 for the bonds.....and 4 for the cut in vehicle registration fees. And it's ONLY Tuesday!

[sventvkg]

7. Californians on this Board...I weep for you...I would suggest passing

the word about the truth of this Bond request because it's painfully clean that most of your constituents are Dumb as box of Rocks and will not understand that you can't cure a deficit with MORE DEBT!!! ..Oh man, our country is SO FUCKED!!!!

[abelenkpe]

15. Has anyone here

read anything about the voter results of the CA recall election? A friend of mine mentioned that he heard a report that a closer examination of the results of the recall found that in three random counties that were checked every single voter voted yes on recall and for Arnold. And that all three counties used electronic voting machines. Is this true? If so, I would be surprised that no other news outlet has picked up on the story. I would like to be able to confirm this story. Has anyone here read or heard anything similar?

[Yavin4]

8. This Is Analagous To Being In A Boat With A Huge Leak...

and then you blow open another hole in the boat in the hopes that the water from the first leak will run out of the second leak.

[catzies]

9. He can't do it unilaterally; he's pushing to get in on the March ballot

So we'll see if my fellow Californians can do two boneheaded things in a row and vote to finance his deficit spending. Which will be a sweet trick, considering th ehit the state's bond rating has took this year.

I still love repeating that his promise of an audit to find billions of dollars in waste came up empty. His budget gal Arduin, imported from Jeb's Florida, reiterated what the budget already said and there was not only no waste, there wasn't anything not already reported, either.

[The Zanti Regent]

10. Doesn't matter, the Whore Press still lies

No matter what channel you turn to in Los Angeles, every one of them is still blowing Arnold

[Norton]

18. Hey Zanti Regent!

that's the funniest thing I've read in a good while!!!
Every state will be going broke next year I expect... no more help available from Uncle Sam. All the money's gone now, it's in
the 1percenter's pockets. This Republican idea of state's rights
and responsibilities just ain't gonna fly. By election time next year
this country will be chomping at the bit to get rid of these idiot-bastards! I COULD WIN THAT ELECTION!!!... (and I'm less qualified than Ahhnold)

[PROUDNWLIBERAL]

12. Tax

Isn't the idea of a bond just another way of saying a new tax. Vote no and make Arnie stew in his own juices. The California lawmakers should not give Arnie a rope as his political ship sinks. Wonder if Arnie will call his buddy Kenny Boy Lay and ask for the money back!

[goforit]

11. Thats 7 billion in real "dollar" numbers.

Thanks to King George!!!!

[TahitiNut]

16. Which will cost CA taxpayers over $30 billion to pay off.

It's nuts. It's just another way of picking the taxpayers pockets to line the pockets of those who can afford to buy the bonds and collect interest. Standard Repugnant trickle-up.

[Jack Rabbit]

13. Sounds screwy to me

Let's see. We're going to borrow additional money to close the gap in the budget shortfall. Then we're going to pay it off, someday, but since Arnold doesn't want to raise taxes, we'll have to borrow money to pay the interest unless we shout down the state. Which means my grandchildren won't go to school, becsue there won't be any. On the other hand, we might be out of debt. So we can go driving off into the sunset on a new set of tires that we will need because every road in the state is pock marked with pot holes.

Is that it?

[truthisfreedom]

14. the bush model of how to budget... use a giant credit card.

let the kids worry about it after you're gone.

[Don_G]

20. Makes Sense Don't It

Borrow your way out of debt....

[radfringe]

19. ummmm...just asking

but wouldn't pursueing the ENRON settlement (a few billion dollars) help out at all?

last I heard - AHHH-nuld was dropping the suit because he didn't want to get involved with "lawsuits" left over from a previous administration