Both bills to change the budget provisions asked for by the Governor, tightening the rainy day fund from grabs by the legislature,and exchanging the 10% higher wage withholding for insteaddoubling thepenalty on income of taxpaying employers that owe more than $1 million in taxes,passed the Assembly and Senate. This heads off the veto and veto override and should receive the Governor’s signature on the entire budget document, probably Monday, after his review.

SCA 30, the rainy day fund, tighter version, passed 57-15 in the Assembly [before all vote adds or changes tallied]with all Republicans and many Dems in support. The taxpenalty on corporations, SB 28X passed by 42-31, with only Dem ‘aye’ votes and at least 1 Dem no vote. [28X still had the rest of the provisions that were in the previous version, AB 36XXX, including various accelerated tax payments and others.]

The win for the day was a ‘rainy day fund’ [I still think it’s a‘drought’ fund, like water behind a dam]that is more difficult for the legislature to get its hands on; getting rid of the unbelievable grab of 10%… Read More

It looks like California finally has a budget. This year’s budget drama may have set a record for the most protracted negotiations in state history, but none of the parties involved are necessarily happy with the outcome. Governor Schwarzenegger swept into power with promises to rein in Sacramento’s out-of-control spending. However, even the Governator hasn’t seen any more success than his predecessor in this area.

Responding togovernment’s continuing tax-and-spend addiction, Americans for Prosperity has been quite vocal and visible this year in its campaign to ensure taxpayers are protected. A few hours after the budget deal was announced, AFP held a budget forum to discuss this year’s budget and tactics for improving negotiations (i.e., protecting taxpayers) in the future.

Surrounded by the beautiful views in the Capitol View Room of the Hyatt Regency Hotel, dozens of capitol staff, policy makers, and AFP supporters assembled to asses the budget process and contemplate the future.

Moderating the forum was AFP’s California Chairman Peter Foy, also a Ventura County Supervisor, who… Read More

It looks like California finally has a budget. This year’s budget drama may have set a record for the most protracted negotiations in state history, but none of the parties involved are necessarily happy with the outcome. Governor Schwarzenegger swept into power with promises to rein in Sacramento’s out-of-control spending. However, even the Governator hasn’t seen any more success than his predecessor in this area.

Responding togovernment’s continuing tax-and-spend addiction, Americans for Prosperity has been quite vocal and visible this year in its campaign to ensure taxpayers are protected. A few hours after the budget deal was announced, AFP held a budget forum to discuss this year’s budget and tactics for improving negotiations (i.e., protecting taxpayers) in the future.

Surrounded by the beautiful views in the Capitol View Room of the Hyatt Regency Hotel, dozens of capitol staff, policy makers, and AFP supporters assembled to asses the budget process and contemplate the future.

Moderating the forum was AFP’s California Chairman Peter Foy, also a Ventura County Supervisor, who… Read More

OC Register columnist Frank Mickadeit’s wrote a column today was way off base. There is a link to it on the main FR page.

My brother Brian is running for Moulton Niguel Water District – Division 5 and he is well qualified. Brian is an involved and passionate member of the Laguna Niguel community. He is running to address specific water policy areas. His background and community involvement make him just as or more qualified to run for office than many current OC elected officials at the local and state level.

Brian serves on the Laguna Niguel Parks and Recreation Commission and he is an OC Parks Commissioner. He serves on the board of the Saddleback College Foundation and as president of his 600+ homeowner association.

Brian is president of a company he founded that distributes metal fasteners- the company has some ten employees and does business domestically and internationally. Prior to starting his current business, Brian spent more than a decade in the finance and technology worlds where he started, built and sold several companies.

Brian has received the endorsement of the CRA, OCYRs and the Republican Party of… Read More

My longtime friend (going back to college days), Assemblyman Joel Anderson, pulled off an event that San Diego hasn’t witnessed in over a decade. Last, Saturday night he packed a ballroom at the Town and Country (the site of CRP conventions of olde) with an eclectic collection of San Diego ‘s most influential business leaders and grassroots activists — and raised a boatload of political donations. I’ve been wanting to tell FR readers about it all week, but trying to cover the state budget gyrations has been time-consuming…

The event attracted a capacity crowd of 350 for dinner and another 110 to the "Host reception" beforehand.

Scattered about the room were the event’s sponsors, representatives from Northrop Grumman, RA Capital Advisers, Barona Band of Mission Indians, Intuit, CH2MHill, Sycuan, Geico, Hamann Companies, Associated Builders & Contractors, and many others. The event also drew a star-studded cast of East County ‘s most influential grassroots activists, a revealing glimpse of Anderson ‘s deep connections inside his district.… Read More

My longtime friend (going back to college days), Assemblyman Joel Anderson, pulled off an event that San Diego hasn’t witnessed in over a decade. Last, Saturday night he packed a ballroom at the Town and Country (the site of CRP conventions of olde) with an eclectic collection of San Diego ‘s most influential business leaders and grassroots activists — and raised a boatload of political donations. I’ve been wanting to tell FR readers about it all week, but trying to cover the state budget gyrations has been time-consuming…

The event attracted a capacity crowd of 350 for dinner and another 110 to the "Host reception" beforehand.

Scattered about the room were the event’s sponsors, representatives from Northrop Grumman, RA Capital Advisers, Barona Band of Mission Indians, Intuit, CH2MHill, Sycuan, Geico, Hamann Companies, Associated Builders & Contractors, and many others. The event also drew a star-studded cast of East County ‘s most influential grassroots activists, a revealing glimpse of Anderson ‘s deep connections inside his district.… Read More

So the the federal government, already $9 trillion in debt with $53 trillion of unfunded Social Security and Medicare liabilities is going to, in one fell swoop, move in and take $500 billion to $1 trillionof bad debt off of Wall Street balance sheets? How, by selling more debt to China? Dubai? I’m sick to my stomach.

Free markets move on mistakes and successes. They are shaped by good decisions and bad decisions. Markets move on consequences. Markets learn from consequences. What the federal government did today is say this to all of us:

1. Greed and corrupt behavior is going to be rewarded;

2. Congressionally mandated loose lending practices are going to be rewarded;

3. CEO’s that made hundreds of millions of dollars and drove venerable institutions into the ground are going to be rewarded;

4. Taxpayers are going to pay for it all in order to "save" the system. We should be furious.

What are we saving?Greed, corruption, stupidity, government malfeasance and ineptitude? Absence of oversight?Is that worth saving?

Today is one of the darkest days in… Read More

There have been other things going on in Washington this week, but nothing is as important or urgent as the financial crisis. The situation has deteriorated significantly in the last few weeks. Basically, the markets for virtually all forms of cash or debt are frozen and non-functional worldwide. There is simply a lack of confidence or, more accurately, fear about who can meet their commitments and who can’t. That has locked up normal trading. This is not just a Wall Street problem. If this situation continues, every single American and probably every single citizen of any industrialized nation will be affected…..and not in a good way. The value of your savings account, your pension plan, your stocks or your mutual funds, depends on a functioning, transparent and liquid market. The market, right now, is arguably none of these things.

Yesterday, John McCain blamed SEC Chairman Christopher Cox. Nancy Pelosi blamed President Bush. A group of Republicans held a press conference to blame President Clinton and Democratic leadership. Barack Obama seemed to blame every Republican office holder in the last 14 years.

They are all wrong. And they are all right.… Read More