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The tax and spend crowd can always find a "good" reason to go further in debt. The debt of the State of California is around $150 billion--plus our pension debt of almost $200 billion, etc. That does not even speak to the deficit that we roll over--or the fact that at this time the NEW State deficit is over $17 billion!! "Adding another $11.7 billion in debt would add hundreds of millions of dollars in yearly interest payments, which the state would repay out of its deficit-ridden general fund."
How will the money be spent? "A flood of red ink is the wrong solution to California's water woes, particularly in the middle of a financial crisis. The state should not pursue borrowing more money for water needs when it faces huge budget shortfalls and has yet to settle basic water policy questions."
Call a time out, for a decade, for further bond measures. The proposed water bond is $11.7 billion--and that is a big fat lie. The actual cost of that bond is $23.4 billion--the Democrats forgot to add the interest costs to the bond measure. All of this, without a water policy.
Now you know why we need some adults in Sacramento.
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How will the money be spent? "A flood of red ink is the wrong solution to California's water woes, particularly in the middle of a financial crisis. The state should not pursue borrowing more money for water needs when it faces huge budget shortfalls and has yet to settle basic water policy questions."
Call a time out, for a decade, for further bond measures. The proposed water bond is $11.7 billion--and that is a big fat lie. The actual cost of that bond is $23.4 billion--the Democrats forgot to add the interest costs to the bond measure. All of this, without a water policy.
Now you know why we need some adults in Sacramento.
More...