California Conservative

When someone speaks the truth, he deserves to be heard. Below is a press release sent out tonight by Senator Abel Maldonado. In it, he clearly states that the just approved budget by the governor and the Democrats (with GOP votes to pass it) “moves California backward”.

I am a little surprised at this wording. The Governors Team has millions of dollars of ads on TV claiming Angelides would move the State backwards–yet Abel is now claiming that a budget bill, largely designed by the Governor, and soon to be signed by the Governor, moves the State backward–thereby nullifying the ad campaign of the Governor. I wonder why Abel is now taking on the Governor?

The Senator makes a very good point, this budget mandates a $4.6 billion deficit next year, after a $2.5 billion deficit this year. But, we all know that is not true. According to Senator McClintock, the 2006-07 deficit, in current revenue dollars is closer to $21 billion:

$2.5 “structural” deficit (fancy phrase for “they can’t control themselves”)
$7.5 billion “surplus” from last year
$10 billion or more in unfunded pension liabilities
$1 billion–or more in unfunded health care liabilities

On top of this, will be the principal and interest payments, if passed for the following:

$37 billion in the Governor’s Infrastructure bonds
$5.4 billion in water bonds (separate from the levee bonds)

Then you have:

$3 billion in solar bonds, passed by the PUC, not needing voter approval
$1 billion (or more) in revenue-leasing bonds for prisons proposed by the Governor.

Does anyone know of other bonds that the state will issue in the next 12 months? (more…)