Latest on the bonds, Gallegly, and poor Jim Nygren
INFRASTRUCTURE PACKAGE Governor Schwarzenegger continues to lead negotiations with legislative leaders towards the goal of putting a massive infrastrucuture bond proposal on the June ballot — it isn’t clear if today is actually the last day to get something worked out — the ‘last day’ keeps sliding, it was last Friday. Based on my math, I think a deal could be worked out as late as Friday, but that would create a real time-crunch. I was with Senator Tom McClintock for a few minutes yesterday, and he was recalling that with Props. 57 & 58, they had like less than 72 hours to put together and turn in the ballot arguments they submitted. The primary sticking point in negotiations is stemming from the fact that legislative Democrats insist on loading up this bond package with billions of dollars in non-infrastructure spending, and are solidly opposed to spending reforms. From my perspective, the most movement has come from legislative Republicans who, frankly, have good reason to be skeptical and opposed to a massive borrowing… Read More