Posted on 05/08/2006 10:04:57 AM PDT by NormsRevenge
With the May revision of Gov. Arnold Schwarzenegger's proposed budget for 2006-2007 due out in just days, he is facing a new issue: What to do with the surplus of tax revenues currently flowing into the state treasury? With history as his guide, he must focus some of that revenue on essential one-time projects that do not plunge California into ongoing commitments that could jeopardize California's current fiscal stability.
The governor could hit another home run for Californians by allocating a portion of the state revenue increase to levee repair -- something we have all become too aware is a dangerous issue that demands immediate attention. Using surges of revenue for cash financing of essential infrastructure projects like levee repair would be solid financial management, smart budgeting, strong political leadership -- and respectful to California's hard-working taxpayers.
In the aftermath of devastating natural disasters like Hurricane Katrina, we are all too aware that levee repairs must happen, and they must happen now.
--snip--
Recently, Schwarzenegger issued an emergency declaration that will help cut the red tape and fast track some of our much-needed levee repair. Cash financing of these costs will save money, because earlier repair of levees reduces the time the state is liable for levee failure. So far, levee failure has run up a $600 million cost to the state -- funding that could be used to improve our schools or other essential state services.
By not creating a long term taxpayer obligation based on revenue levels that may not sustain for future budgets, these immediate projects are smart fiscal management. Cash financing of levee repair is also substantially less expensive for taxpayers. Depending on the interest rate, borrowing for levee repair can cost 80 percent more than cash financing.
(Excerpt) Read more at sfgate.com ...
I thought about this the other day. The outcry from California will be several magnitudes higher than the outcry over the New Orleans levees when the big quake comes and/or a tidal wave comes to wipe out a section of California.
What really bothers me is the response from all of this. Everyone expects the government to be their keeper. We whatever happened to the independent spirit of this country--did Big Brother or THE GREAT SOCIETY wipe it out?
Since when? He's running headlong into the Davis fiscal quagmire while many people still have the RECALL bumper stickers on their cars. History certainly is NOT this man's guide.
I'm glad I have a few spare Dump Davis bumper stickers, I can just ink a 2 at the end of it when its time to recall the latest dolt in the Gub's seat.
1) What the heck do tidal waves have to do with anything?
2) I dispute the suggestion that "The outcry from California will be several magnitudes higher "after a disaster.
The crying and wailing from new Orleans was from the population that had come to live at the knee of government. The liberalism you read about in California is from the handful of extremists who have captured the Democrat party and are serving in the legislature. As opposed to New Orleans the vast majority of Californians are hard working average people of some means. In fact California DOES regularly go through some pretty major disasters and while you do hear moaning and complaining from the usual suspects (which they also have in Texas and everywhere else) the population here weathers disasters relatively well.
Yeah right
You don't lose debates very well do you?
You have your opinion and I have mine. I'm not going to change mine and I'm guessin you're not going to change yours either, so what's the point?
Every penny of every surplus should be spent getting rid of debt, at whatever level (federal, state, local, personal) until there's no more debt.
THEN you can use the excess to build something on a cash-basis.
Actually I stated facts.
The point is that it's pretty silly to say that the poverty and welfare dependence that made up vast portion of the damaged sections of New Orleans can be compared to the socially liberal trends you hear about like gays in school text books, coming out of the California legislature.
But more importantly to start your argument with "if a disaster were to hit California..." is also out of place. Major disasters are a way of life in California (brush fires, floods, earthquakes, mudslides) and our state has learned to live with them.
California is not a poverty-stricken welfare state. A more apt comparison for confusion and wailing after the next disaster like Katrina would be a hurricane hitting Houston (where they all live now) rather than an affluent California city like San Diego.
Most on this forum don't seem to care about facts. Or so it seems.
“The deepest circle of hell is reserved for betrayers and mutineers.” – Captain Jack Sparrow
Chin up. It's the silly season. It's time to howl at the moon, to become a political expert, to voice an opinion, to get grudges off your chest and generally make a fool of yourself and your party.
Come November 15, the tsunami of political lunacy with retreat, reality will settle in and everyone will be blamed. even if they didn't participate.
yeah, you are right.
Why should my money go to a levee?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.