Quote:
Originally posted by yellowgowild
It can't be easy to repair the damage that was done before he came into office. I'm just guessing, but maybe he didn't know how bad things were until the real numbers were opened up to him. I seriously doubt he's cutting these things because he just felt like it, there has to be a carefully calculated reason behind it, and I'm sure it's not to "fuck california".
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I don't know what the quotes around fuck california are for, I didn't say that was his intention. Are you in Tampa, CA or another out of stater explaining how bad things were here from your couch?
It certainly isn't easy to repair the defecit damage, regardless of what caused it. Borrowing 15 billion dollars isn't going to get us anywhere but deeper in debt--where is the money to repay that going to come from?
Here's an interesting tidbit--the 15 billion in interest we're going to have to pay on the 15 billion loan (I have my pamphlet right in front of me [page 16 and 4 from the supplemental]) is being estimated at a 5.25% rate. Anyone remember we are coming out of the lowest borrowing rates in the past 40 years? I wonder what the rates will be in a few years, much less 30 years from now.
On top of that, we're also going to borrow 12.3 billion for education and repay the principal plus 12.4 billion in interest. Go, go, gadget finance wizards!
Anyway, he's not cutting things because he feels like it, he's cutting things and raising fees because the members of his party are too stupid or uninformed to recognize that increased fees amount to higher expenditure--albeit not due to "taxation." Since he promised not to raise taxes, he's chosen to raise fees and borrow against our future.
/scratches head
Maybe he's doing this because he promised the citizens to fix our deficit mess, deal with special interest groups, and fix the shit in the big house without (magically) raising taxes or cutting necessary services--all the while refusing to engage in public debate as to how he was going to do all this wonderfulness for our great state. Now he gets to revel in being governor while continuing the same (or extremely simiar) fiscally irresponsible shenanigans that got us in trouble to begin with.
I guess the most interesting thing is he has to convince the voters to alter a 150 year old section of our Constitution that prohibits this type of shit from occurring.