Posted by Jon Fleischman at 12:00 am on Jun 18, 2009 Comments Off on Assemblywoman Harkey Takes On Irresponsible Borrowing…
Today on the Assembly floor, Democrats tried to push through
some legislation that would have authorized the State Controller
John Chiang to, in essence, issue junk bonds for California — where
we would borrow on the short-term at huge interest rates. Governor
Schwarzenegger has said that he opposes this kind of borrowing,
which is costly and does not solve our state’s problems.
Assemblyman Pedro Nava (who aspires to be California’s next
Attorney General) and his Democrat colleagues apparently think this
kind of borrowing is a good idea — not a surprise, as they will do
anything to avoid telling union bosses that real cuts are
coming.
Assemblywoman Diane Harkey, we was tapped recently by Assembly
Republican Leader Sam Blakeslee as the Republican Lead for Solvency
Strategies, took to her microphone in the Assembly Chambers to make
the case for why this kind of borrowing is bad, and why Nava’s bill
should be rejected.
The bill required a two-thirds vote to pass. Did Harkey prevail
on enough of her colleagues to kill the bill? You’ll have to watch
this video to find out… … Read More