Lets see what gets put on the bond measure for the voters to approve before swallowing such stories as this one from a liberal rag...
The story's from the AP. Schwarzenegger's green lighting Davis' $10.7 billion dollar bond scheme to bypass the voters. It's as illegal now as when Davis tried it. It's in violation of the California Constitution. After saying for weeks there would be no option for putting a big bond measure on the spring ballot, Gov. Arnold Schwarzenegger quietly gave the green light Friday to a plan to borrow $10.7 billion without voter approval. Last summer, the Legislature authorized the bond sale as part of the budget agreement signed by former Gov. Gray Davis. But taxpayer groups, as well as many Republican lawmakers, criticized the deal, saying borrowing of that magnitude should be approved by voters. One group, the Pacific Legal Foundation, filed a lawsuit in September, arguing the proposal to sell $10.7 billion of deficit-financing bonds should be ruled invalid because of provisions in the California Constitution that prevents the Legislature from taking on more than $300,000 in long-term debt without approval of the voters.
More on the Davis' illegal $10.7 billion bond that Schwarzenegger is trying to resurrect... Schwarzenegger's bond plan would replace a $10.7 billion bond issuance by former Gov. Gray Davis that's being contested in court, and would shore up the state's spending plan through June 2005. His finance director, Donna Arduin, told state lawmakers last week that Schwarzenegger's $15 billion plan and the $10.7 billion in legally questionable debt back each other up: one or the other is necessary, but if both fail the state will run out of money by the end of the fiscal year in June. The $15 billion deal is vital to Schwarzenegger's budget plans, which also includes $3.8 billion of cuts in the budgets for this and next year and a spending cap. "If we don't have that, and the $10.7 billion bond falls through in court, then we have no money and then we have to make cuts that are disastrous," Schwarzenegger said.
Schwarzenegger Says Bond Plan Is State's Only Hope
Governor Says He Has No Backup Plan
NBC San Diego.com - December 2nd, 2003
But on the campaign trail, Schwarzenegger said... We need to get our spending under control. I support a constitutional limit on annual spending increases, a "rainy day" reserve fund and an unambiguous constitutional requirement that the state pass a balanced budget so that California never finds itself in this mess again. I will also restructure our inherited debt, estimated at between $12 and $20 billion - a very wide range that is itself another indicator of how difficult it has become to understand just what is going on in Sacramento. This includes the unprecedented $10.7 billion deficit bond and other borrowing in the current budget.
Arnold Schwarzenegger - Schwarzenegger Campaign website
Schwarzenegger promised to control spending without raising taxes, but most of his efforts to control the budget shortfall revolve around borrowing, which only mean higher taxes later. If a Schwarzenegger bond measure ever does reach the voters, it should be treated like any other... with a no vote.
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Frankly, the real political hat trick would be to break the budget down into small components and put every tiny component onto the statewide ballot. Let the voters approve what they consider vital, and let them say no to the rest.