Schwarzenegger Says Bond Vital to Avoid Bankruptcy

[cthrumatrix]

Schwarzenegger Says Bond Vital to Avoid Bankruptcy
1 hour, 34 minutes ago


By Adam Tanner

SACRAMENTO, Calif. (Reuters) - California Gov. Arnold Schwarzenegger (news - web sites) warned on Tuesday that the nation's most populous state could risk bankruptcy in June if voters do not approve his $15-billion bond plan this spring.



The actor-turned-politician used his first state of the state address to kick off a campaign to convince voters to approve the bond plan put on the March ballot last month by the Democrat-controlled legislature.


Schwarzenegger, who swept into office in October vowing to fix the state's battered finances, said the bond plan was the best way to avoid new taxes or even deeper spending cuts. California needs the money to pay the bills when $14 billion of short-term notes come due in June.


"Together, we put measures on the March ballot that, if passed by the people, will save our state from a June bankruptcy," Schwarzenegger said in his speech. "June is the month when billions of dollars in past loans come due and the financial house of cards built over the last half of the decade is set to collapse."

snip

http://news.yahoo.com/news?tmpl=story&u=/nm/20040107/pl_nm/economy_california_dc_3

Go in debt and mortgage the future "more"...or else I declare bankruptcy. Now...that takes vision. Gray could have done that!

[newyorican]

1. I read that 3 times...

and *still* saw "Blonde" instead of Bond. Sheesh...

[PartyPooper]

2. I simply don't believe one word the 'gropenator' has to say.

Not one single word!

:evilfrown:

[bemildred]

3. Let them go bankrupt.

Like it would be worse than more of this slow death
of a once great state.

[rocktivity]

4. You can pay him now or pay him later, California

You can avoid bankruptcy by raising taxes. Unfortunately, you care more about keeping your job. Oh, and by the way--



rocknation

[abelenkpe]

5. go into debt to bail Ahnold outta a big mess

I don't think so. I hope you will all join me in voting NO on this ridiculous and irresponsible bond request. Besides, I thought Ahnold had everything figured out and was going to fix our state government with his amazing super human abilities...not on the backs of taxpayers who under this borrowing scheme would end up paying twice the amount Ahnold proposes to borrow. Doesn't Ahnold want to show us he is capable of making all those tough decisions trained politicians are incapable of?

[GregW]

6. Seig Heil! Herr Gropenfuhrer

[mitchtv]

7. Guess who is voting no?

me thats who. They didn't want Davis' $10b bond, now they want 15b. All to pay for a bunch of idiots who don't know how to drive, the SUVs that they can't afford. They kill themselves nightly around here. The pukes didn't care when they deadlocked the budget, now I'm supposed to bail their sorry asses out?

[The Zanti Regent]

8. Stop Der Führer's Borrow and Spend binge

Vote NO on the Bonds!

Make Arnold tax his rich friends to pay their fair share, especially Jay Leno!

[Sandpiper]

9. Now way

Am I going to cosign a 15 billion dollar debt and give my stamp of approval to GOP credit card economics. It's time that the Goopers exercised some fiscal responsibility and raised taxes on those who can afford it.

[LibDemAlways]

10. I can't wait to vote a big resounding NO

to Gov. Idiot's bond proposal. Total Recall, anyone?