[calcowgirl]

Mike Genest, Schwarzenegger's department of finance director, said it is important to note that state revenues go up substantially over the life of the proposal. "The long range estimate of revenues shows that they triple in the 20-year period," he said. He also said the governor is not retreating on his promise to "tear up the credit card." "This is more like a mortgage on a house," he said.

We've come full circle from the recall. Gray Davis committed dotcom revenue that he didn't have and got the state into the deficit mess it still is. Now this administration wants to spend revenue growth anticipated over the next 20 years on debt financing. With all of that growth, why borrow at all given that borrowing doubles the cost of the investment? Prioritize the infrastructure projects and pay for them out of normal revenues as they become available.

[goldstategop]

Ah but you and I don't have to pay for it. Its free money. Sure, our children and grandchildren will have to pay the piper but the prevailing mindset is, "its not my problem." No wonder there's the absence of outcry over record-breaking spending.

(Denny Crane: "I Don't Want To Socialize With A Pinko Liberal Democrat Commie. Say What You Like About Republicans. We Stick To Our Convictions. Even When We Know We're Dead Wrong.")