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 market rewards good business decisions and punishes bad ones. The course of action supported by the Administration and the Congressional leadership undermines this fundamental principle by bailing out those on Wall… Read More

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

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

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.

Legislative Democrats, due to their gerrymandered majority, managed to get through this budget season without a serious overhaul of California’s government. Decades of dominance by liberals in Sacramento has grown state government into a grotesque and massive one – in need of serious reforms.… Read More

Marriage in the Balance

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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