As the Governor is out selling Proposition 1A, the tax extension measure with a “spending cap”, it may be time to remind voters of other promises he made them.
Anyone remember Proposition 58? Only 5 years ago. The Governor was touting his post recall plan for California. The budget deficit was ..gasp… over $20 billion.
Prop. 58 along with his economy recovery bond Prop. 57 would restore California to fiscal health.
The Governor got the CRP to support the measure. (CRA did oppose.)
Here is my favorite part from the official ballot argument in favor.
“State government spending in California is out of control. Over the past three years, state spending has significantly exceeded state revenues.
Proposition 58 will require the Governor and the California State Legislature to ENACT a BALANCED BUDGET. Right now, the Governor is only required to propose, not enact, a balanced budget. This loophole has led to the huge budget deficits that plague California.The California Balanced Budget Act:
WILL require a BALANCED BUDGET;
WILL require that SPENDING NOT EXCEED INCOME each fiscal year;
WILL require general funds to be put in a "Rainy Day" fund to build a RESERVE to protect
California from future economic downturns.”
There was more of this all signed by the Governor.
The rebuttal to the argument against had this gem. “We should not be allowed to SPEND MORE MONEY THAN WE HAVE.” (Capitalization already part of text.)
Thank you Governor. Good thing voters passed Proposition 58. Otherwise, we would have had an unbalanced budget with no rainy day fund.