Today is going to be a big day for Carly Fiorina. The former Chief Executive Officer of Hewlett Packard from 1999 through 2005 will make it official that she is a candidate for the Republican nomination for the United States Senate. Her goal is to retire the ultra-liberal and ineffective incumbent, Barbara Boxer, next November.

As I like to say here on the FlashReport, we are "fair and biased" — and so I don’t mind laying out for all that there is no one that I can think of in the United States who combines the qualities of liberalism and shrillness into an all-together nauseating toxic cocktail of a politician.

In advance of her official announcement today, I had a chance to sit down with Fiorina. While normally I would try to release a lengthy interview in more digestible segments, in order to help FR readers assess this new entrant into the U.S. Senate race I have… Read More

Last night the State Senate made a decision that the Assembly will mull over this morning — do you put a "solution" to the state’s water problems in front of voters that includes billions of dollars in unnecessary spending? To talk to Republicans who are supporting this proposal, they would tell you that they support some of the non-essential spending in order to make the measure itself more appealing to liberal votes in parts of the state that aren’t suffering from water shortages. Talk to others and they would tell you that the water crisis is so bad that billions of non-essential borrowing and spending is simply the price paid to get a water-fix through a legislature dominated by liberal Democrats.

Either way, if the water bond proposal as passed by the State Senate last night is approved by the Assembly and scheduled to go before voters in November of next year, there is serious question about whether or not such a "Christmas Tree" measure (with boughs filled with ornaments of enviro-pork) will be passed or rejected by voters.

To be sure, there is a large chunk of this proposal that makes sense — borrowing to… Read More

In 1999, the first year of the beginning of the Davis debacle, I was re-appointed as the Republican member of the Health and Human Services Budget Subcommittee (I had been the one Republican member of the three member committee before, but had been removed because I was "too difficult" to deal with). When I returned, my consultant on that committee was Mike Genest. For at least one budget cycle (maybe two), we sat in the committee watching then Committee Chair (later Congresswoman, and now Labor Secretary) Hilda Solis spend the state into oblivion. During her time as the Committee Chair, Solis increased welfare spending by 42%, moving the state to its largest (by percentage) deficit in its history.

During that time, I learned more about the budget, how it works, and what works and what doesn’t than I had in my first stint on the committee. I had great consultants before and after that time, but I learned a lot from Genest, and learned how the budget worked. A better budget technician you will never find.

He is now leaving the state, and I think the Governor will be worse off for it. He is loyal, he is competent, he is smart, and he… Read More

Last night the State Senate made a decision that the Assembly will mull over this morning — do you put a "solution" to the state’s water problems in front of voters that includes billions of dollars in unnecessary spending?

To talk to Republicans who are supporting this proposal, they would tell you that they support some of the non-essential spending in order to make the measure itself more appealing to liberal votes in parts of the state that aren’t suffering from water shortages. Talk to others and they would tell you that the water crisis is so bad that billions of non-essential borrowing and spending is simply the price paid to get a water-fix through a legislature dominated by liberal Democrats.

Either way, if the water bond proposal as passed by the State Senate last night is approved by the Assembly and scheduled to go before voters in November of next year, there is serious question about whether or not such a "Christmas Tree" measure (with boughs filled with ornaments of enviro-pork) will be passed or rejected by voters.

To be sure, there is a large chunk of this proposal that makes sense —… Read More

Lest there be any doubt about whether the new Pelosi Health Care Bill is more costly, more controlling, and closer to socialism than the previous iteration, here is your fact of the day:

You may remember that the ‘original’ health care bill introduced before the August recess, H.R. 3200, would have created 53 separate bureaucracies, commissions, boards etc… The new Pelosi Bill, which the House may vote on as early as this week creates a whopping 111 new boards, bureaucracies, commissions, and programs….wow….if this isn’t a massive government intervention into our health care system, I don’t know what is.

Monday’sedition of the Wall Street Journal has a scathing editorial of the legislation introduced by Speaker Pelosi. It notes the creation of a new ‘Health Choices Commissioner’ that will decide “essential benefits” which all insurers will have to offer. This sounds like something straight out of Aldous… Read More

James Freeman, a former staffer for then-Rep. Chris Cox (R-Newport Beach) is today an editorial writer for the Wall Street Journal. In a book review in the paper’s "bookshelf" column, he has managed to succinctly summarize the root cause of financial turmoil impacting the government sponsored enterprises (Fannie Mae, Freddie Mac, Ginnie Mae et al) and the financial institutions that bet on their investments. This summary comes in the form of a review of a new book, "The Sellout" by CNBC correspondent Charles Gasparino.

Here’s the gist, in terms of market turmoil triggers: "For another, the government had made a series of horrendous policy decisions that, as Mr. Gasparino shows, encouraged financial firms to go long on housing in ways that would have once been unimaginable.

"In 1995, Henry Cisneros, the secretary of housing and urban development, directed Fannie Mae and Freddie Mac…to buy and guarantee mortgages of low- and moderate-income borrowers amounting to 42% of their annual business volume. His successor,… Read More

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.… Read More

This week will see likely legislative action on water issues…the cause being a good and needed one. But in the mosh pit of legislative compromise, what will we get as the end result? The voters will be asked to vote on a large bond of some sort, should a proposal survive the legislative process and win the 2/3 vote needed in both houses.

It’s sort of an ideological slide rule as you move the bond proposal slide to each side to find support that gets 2/3 of legislators to agree. Move the slide too far to the right, [money going mostly for building storage, dams, hard infrastructure only] Dems drop off like flies.Slide it to the left, [money mostly for ecosystem restoration as most previous water bonds have done, removing dams on the Klamath, acquiring more land, creating more commissions and morepower for them over land and water use] and Republicans say ‘no thanks’. Place it in the middle and it’s not effective at doing anything, other than a dribble towards eco stuff as dam projects require a large commitment.

How excited are the voters to approve a likely $9B + bond that they aren’t sure produces… Read More