Schwarzenegger Says Bond Vital to Avoid Bankruptcy

[hadrons]

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.


....

In his televised address before the state legislature, however, the star of the "Terminator" films focused on broad themes rather than specific fixes to California's troubled finances. The governor is scheduled to provide those details when he unveils his fiscal 2004-05 budget on Friday.

....

An aide said that internal polls showed the measure had a chance to win passage, but would require Schwarzenegger to take an active campaigning role. "It is not winnable absent a campaign," the aide told a media briefing.

....

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

[barbaraann]

1. "Broad themes" aka propaganda aka lies

Just like Reagan, Bush, and all the rest of them.

[arcane1]

2. funny, I thought getting our 9 BILLION Enron-stolen dollars back...

was fucking "vital"

I guess not... :shrug:

[opihimoimoi]

3. WAIT a Minute............... He said he was gonna find FAT/WASTE

and trim that. Anyone can "Borrow" money. That wasn't in the scheme of things.

I thought Ahnold was full of ideas? I guess not.

These Pubs, always go for the quick fix. Borrow from the kids again.

And worse, they make you feel like its not only a VERY GOOD IDEA, but They are Heros for thinking of this in the first place, never mind its called "borrowing".

[arcane1]

8. "waste" to a repube means...

Poor children's health care, education, food, housing, etc...

Jay Leno has expensive cars to pay for, after all. Priorities, man!

[Philosophy]

4. Hey - this is just as good as a tax on the rich

Only people with money can afford the bonds, and there is no way the state will ever be able to repay them. So I say go for it. :evilgrin:

[Deja Q]

5. And the shee-, uh, people, will probably vote for it unanimously too

If Governor Groper can't get into specifics, then you know he has no fucking clue or plans to screw the people.

Sorry, but they need to raise taxes.

[Cleita]

6. Hahahahahaha.

Mr. Hotshot Businessman. He was going to open the books and find the waste in Sacramento. Nevermind that the books were quite open and available to anyone who wished to look. Looks like he has to do what I do when need exceeds income. I have to use a credit card to bail me out, but then I am no hotshot businesswoman. It appears he is no more qualified to be governor than I would be.

[DBoon]

7. An if a Democratic Governor had suggested borrowing..

...$15 Billion, what do you think the response from Republicans would be? Do you think the Republicans in the state legislature would lift a finger to support it? Or would they use every trick at the disposal of a minority party to stop this?