Some sanity from the halls of Congress, from California Republican Congressman Darrell Issa… As disturbing as the volatility and turmoil on Wall Street are, the prospect of transferring trillions of dollars of risk and losses to taxpayers is appalling. How can any American look their neighbor in the eye and suggest that they should bear the losses for the mistakes and greed of America’s wealthiest financial firms. I am emphatically against it. Accountability is a pillar of our free market economic system. The… Read More

Well, earlier today Governor Schwarzenegger signed the budget. But he didn’t sign everything — the Governor took the opportunity to make healthy use of his line-item veto authority. One distinct advantage of a budget getting to the Governor’s desk over his own objection is that he has no commitment to authorize all spending in the budget — and he didn’t.

The Governor has used his line-item veto authority to cut $510 million out of liberal spending programs sponsored by Democrats and championed by the special interest groups that push their buttons.

Also, remember the executive order the Governor signed terminating thousands of part-time, retired annuitant and other state workers? Well, first and foremost, it has saved us $340 million since it was put into place. But better yet, my sources in the Governor’s office tell me that Finance Director Mike Genest and Cabinet Secretary Dan Dunmoyer alerted all agencies today that the executive order will remain in effect through the year. That means no hiring back all of the state workers who, apparently, we were able to do without for the past couple of months. More good news for… Read More

We have heavily editorialized here at the FlashReport against the outrageous appropriation of millions of dollars for the University_ of California to support "research on labor and employment and labor education" – or more appropriately put, public money for labor unions.

Well, I am pleased to announce that after culling through the line-item vetoes, Governor Schwarzenegger has COMPLETELY ELIMINATED funding for this boondoggle, again showing the advantage to taxpayers of sending the Governor a budget where he is not a party to agreeing to everything in it. Below is directly from the veto message.

Item 6440-001-0001-For support of University of California. I reduce this item from $3,000,920,000 to $2,995,520,000 by decreasing:

(1) Support from $3,123,516,000 to $3,118,116,000, and by revising Provisions 14 and 24 and by deleting Provision 16. Page 8

I am reducing this item by $5,400,000 to eliminate funding that supports research on labor and employment and labor education. While this budget bill provides for a modest reserve in 2008-09, it fails to make the necessary statutory spending reductions and revenue increases needed to… Read More

With a tip ‘o the hat to the SacBee, here is a link to sign up for the 10th annual Gray Davis Staff reunion! If you are looking to chat with folks in the Schwarzenegger Administration, this would be a great place to catch up with a whole lot of them.

If it weren’t for the success of Davis Administration alums with the current administration, I would imagine these affairs would be pretty bitter. As it is, I’m sure the reunion of staffers for a disgraced, recalled public official aren’t exactly blow-out affairs…… Read More

I have been scanning the internet, looking for someone to put into words how I feel about all of this talk of a Federal Bailout of Wall Street — and (predictably) I found it at the Club for Growth. I have no kind words for President Bush or his agent, Treasury Secretary Hank Paulson (who probably stands to personally lose tens of millions if not more without a bailout) in this matter — that this kind of massive redistribution of wealth is being proposed by a Republican President is…shameful:

Club for Growth Condemns Federal Bailout Government Intervention is not the Answer

Washington – The Club for… Read More

Are you sick of California’s legislature breezing past our Constitutional deadline to pass a State budget, of "partisan" bickering over taxes and spending, and the inability of both sides to come together to solve the innumerable problems facing the Golden State? Well I am. And I’m sick and tired of Democrats getting a pass on the responsibilityfor these failures.

There is no question who is in control of the Legislature and its operations. With large majorities in the Senate and Assembly, the Democrats have the ability to completely dominate the process by which we are intended to arrive at solutions. Here are a number of examples of how the Democratic leadership continues to fail all of us:

The State budget requires a 2/3rds vote for final passage. From the months of January through June, the Assembly and Senate engage in budget subcommittees that are intended to help create the draft of the conference report the Big 5 (the four legislative leaders and the Governor) will negotiate in the end. Despite the fact that the 2/3rds requirement will obviously be necessary, the short-sighted Democratic leaders allow the… Read More

Ticked off over Dem support for the State budget, the California Teachers Association is considering shifting from a neutral stance to support for Prop 11, according to Cap Weekly….

Read it here.… Read More

As Governor Schwarzenegger prepares to sign the California State Budget, we hear at the FlashReport are prepared to say that everyone involved in the process were winners AND losers.

The winners:

Legislative Republicans, led by Senate Republican Leader Dave Cogdill and Assembly Republican Leader Mike Villines, draw a bright line in the sand and said that the problems caused by massive over-spending in state government WILL NOT be resolved by increasing taxes on Californians. In the face of Democrats who made as a top priority a hike in the state’s income taxes, and a Governor of their own party pushing a multi-billion dollar sales tax increase, GOP legislative solidarity won the day.

**There is more – click the link**

View Full Commentary… Read More