Posted by Michael Der Manouel, Jr. at 12:00 am on Oct 25, 2006 Comments Off on The straight-forward Case For Opposing All Five Bond Measures
There are very few absolutes in politics, but let’s be clear
about this November’s election – a vote for any of the proposed
bonds, Propositions 1B – 1E and Prop 84, is a vote for the same
type of fiscal recklessness that led to the recall of Governor Gray
Davis in 2003.
Think about it. Since 2003, tax revenues have exploded in
California – up $20 billion annually. The Governor’s Workers’
Compensation reforms are an underappreciated reason for this
increase and the economic activity associated with this
increase. Unfortunately, the Legislature, Democrats and some
Republicans, and the Governor, have spent the entire increased
baseline in revenues and then some, and the State is still running
structural deficits between $4 – $6 billion annually.
Almost none of this increased spending has been allocated to
increased infrastructure spending, and instead gone to education
and other issues, such as health care. So our roads, schools,
levees and other long deferred infrastructure have not been funded
– despite the obvious needs in each area.
So now, despite the massive and unprecedented increase in State
tax revenues, and despite the… Read More