Today’s Commentary: A Fiscal Emergency Special Session About the Budget? Sure, The Gov Can Call One – But Nothing Will Happen…….
Not wanting to be contrarian to all the recent voices for the Governor to call a fiscalemergency special session to deal with California’s critical budget crisis – but if he does – nothing will happen.
Sure – a "Fiscal Emergency Special Session" sounds great, and it would be great if Prop 58 (which created this authority) had any teeth in it. But Prop 58 was written as window dressing for Prop 57(the $15 Billion Deficit Bond) that the governor and the Democrats really, really wanted to bail us out of the Gray Davis deficit crisis.
Prop 57’s basic concept was for California to go into more long-term debt to pay off itsshort-termdeficit – which without Prop 58 to make it look like "real reform" would never ever have made it past the voters. (consumer warning: don’t attempt this at home – you will go bankrupt)
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