CA: Selling delay

Sac Bee ^ | 12/2/03 | Op/Ed

[NormsRevenge]

Gov. Arnold Schwarzenegger is back on the campaign trail again this week, selling for his bonds plan. After five years of Gray Davis, who governed by holding his finger to the wind, it's good to see a governor out trying to build support for his program. The problem is that what Schwarzenegger is pushing isn't worth fighting for.

[farmfriend]

Now how is that fair!

It's not fair, it's "Sacramento BEEZARRE"! Hahahaha!

[Carry_Okie]

Now how is that fair???

Maybe we need a FareOpinion?

[Ernest_at_the_Beach]

Just posted this:

CA: Bipartisan Budget Reserve And Spending Limit Introduced ( Nov 20 2003 )

[Ernest_at_the_Beach]

Schwarzenegger has linked his pass-the-buck bonds to a second proposal, which would place before voters in March a constitutional revision that would alter the state's existing spending cap in ways that would remove California's budget flexibility and invest the governor with virtually unlimited power.

See the link above for the second proposal!

[Amerigomag]

Sometimes you gotta do something to hold the creditors at bay

Sounds good and even logical until you identify the main class of creditors. In this case they aren't the commercial vendors or the bondholders or the bankers or even it's present employees.

They are the entitled recently classes. The young, the poor, the ill, the elderly, the state retiree, the illegal resident.

California has more than enough cash flow to pay it's vendors, it's bond holders, it's accuring interest on it's debt, its employees and even to reimburse it's retirees for the cash they placed in their retirement accounts. In a word, even under the present circumstances, California is solvent if measured as a commercial enterprise.

It simply doesn't have the cash to sustain the recently entitled classes.

[Avoiding_Sulla]

Maybe we need a FareOpinion?

Well, seeing as hers is the distaff's side, would that make your suggestion that of the bus staff's side? [there's gotta be a pun that fits in there better than that -- I just can't give you a timely one tonight]

[gitmo]

I guess in the case of a state, the entitlements to the recently entitled are comparable to expenses. You are still obligated until you can change the law. In the meantime, you still gotta pay the bills.