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Posted on 06/17/2002 5:08:29 PM PDT by randita
Edited on 04/12/2004 5:39:06 PM PDT by Jim Robinson. [history]
SACRAMENTO (AP) - Gov. Gray Davis has asked the committee scraping to fill a $23.6 billion budget hole to find $1 billion more -- with cuts or tax increases -- to boost emergency reserves and protect California's credit.
Now, after two full weeks of meetings, the Conference Committee on the Budget must decide how to come up with about $5.5 billion. That includes $1 billion reserve, about $1 billion in additions the panel has made to the budget and roughly $3.5 billion in car and cigarette tax increases proposed by Davis last month.
(Excerpt) Read more at sacbee.com ...
Gov. Gray Davis has asked the committee scraping to fill a $23.6 billion budget hole to find $1 billion more -- with cuts or tax increases -- to boost emergency reserves and protect California's credit.
Now, after two full weeks of meetings, the Conference Committee on the Budget must decide how to come up with about $5.5 billion. That includes $1 billion reserve, about $1 billion in additions the panel has made to the budget and roughly $3.5 billion in car and cigarette tax increases proposed by Davis last month.
"From this day forward, that's what our conversations will be about," said committee chairman Sen. Steve Peace, D-El Cajon.
Good luck Peace! We know your scheme is to raise taxes and raise more taxes to try and look good on Wall Street.
Tough luck Peace and Davis, the bond buyers of Wall Street know what you fascists have been doing to this state for the past 15 plus months. They don't read the Bravo Sierra in the LA Times, Sac Bee and SF Chronicle and say what a good governor Davis is. They see Davis in the same light they see the Banana Republics south of the border.
Davis asked for the additional rainy day funds to help the state persuade Wall Street investors and credit rating agencies that California can pay back its loans and sell bonds.
Specifically, the state must prove it will be able to repay an $8 billion short-term loan -- called a revenue anticipation note -- that state Controller Kathleen Connell said is necessary to help the state pay its bills this summer.
Can't you just see the picture of Davis working the back streets/alleys of Wall Street with a slimey dirty raincoat going "Psst Buddy, want some really great discounts on some Kali bonds!" Then he flashes the third world junk bunks as he quickly opens and closes his grimy raincoat.
Psst Gray, the answer for these junk bonds are the lefties in charge at Cal Pers!
However, he needs to be afraid of some big time and evil backers of the DNC. The ChiComs and Opecker Princes will not stand by and allow Davis to destroy their main investment in America, the DNC and the rats they own in Congress and in state capitols.
Protect California's Credit.
Coming from the politician that destroyed California's Credit that should give everyone a belly laugh!
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The mad spender and fundraiser dufus.
Hope the rest of USA pays attention. This is what you get with 100% dimocrat control. A great state ruined within three years.
Hope the "Vice Squad" is on-duty.
FYI similar but less covered situation here in Iowa. DemocRAT Gov. Vilsac somehow turned a $20 million surplus into a $40 million defecit. Pissing away money is just a way of life on the left.
California should go to the IMF and ask for bailout money. Because the State is such a high risk they'll demand a hefty interest rate that drives us into default and down the perpetual thurd whirled debt loop.
We'll owe so much money...
even Mexico won't want us!!!
I tell you, I'm so dangid brillyunt even I cain't stands the glare when I looks in a mere-err.
I see! Davis is just trying to save California for the US,
otherwise the ATZLAN crowd would convince Mexico
to annex California.
With Davis's handiwork they won't be able to afford California!
That has got to be the Davis plan!
Hopefully Davis will become a daily "Free Fire Zone" for the Cali papers and of course the financial papers.
All of his Bravo Sierra stuff trying to shift blame to GW/Cheney and Enron has failed totally on Wall Street. The money guys/gals know that he and his lefty thugs are incompetent fascists.
Wall Street even knows that the California recession has kept the lights on via the closure and reduced working hours of businesses in Kali.. Hopefully this story will be leaking out around the edges.
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