To: concentric circles
Bonds are NOT a tax.
Arnold is exactly needs to bonds to PREVENT having to raise taxes.
It is NOT possible to cut sufficient amount fast enough to solve the crisis built up over several years.
Bonds are future tax increases. How else do you think you bill pay back the 15 billion plus interests? It is not like the bond issue is going for some economic stimulus. It is going to provide for the govt which does nothing but suck up more money from the economy. The realistic alternative is to cut govt spending by 15 billion.
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