The Stockton Record today has an article about the State’s latest ticking time bomb: bond payments.
The latest disaster, coupled with operating deficits, exploding pension and healthcare obligations, and plungng tax receipts, means the State’s budget problems are probably two to three times worse than what has been previously reported. In addition, California’s bond rating will go even lower as a result of the unsustainable borrowing voters have done over the last ten years.
In election after election, conservatives, and the Lincoln Club of Fresno County, have opposed all bonds on statewide ballots because we knew it would come to this: we are functionally bankrupt now.
Now, the Legislature is considering another water bond. We’ve had at least four water bonds over the past ten years already. What the hell are we doing?
And what do we have to show for it? Nothing.
November 2nd, 2009 at 12:00 am
Time for a change….no money issues on the ballot, for the moochers are gaming the system…they take and take and take.
Now look at this: The moochers get subsidized housing, welfare check, food stamps, free public education, medicaid/medical, earned income tax credit, pay no state of federal income taxes, free school lunches and maybe breakfast for their children, emergency room care, no copays or deductibles on health care costs, subsidized phones and some cell phones, subsidized utilities, no maintenance costs ala work attire, no transportation costs for they do not work….
WHY IN THE HECK ARE YOU WORKING FOR?
November 3rd, 2009 at 12:00 am
People think bonds are free money, how about a constitutional amendment where bonds that bust our debt load and credit rating would require a 2/3rds vote, and until we get our current bonds paid off then people have to wait.