"bb" wrote in message
...
On 09 Oct 2003 03:26:46 GMT, reg (Gfretwell) wrote:
For those of us OUTSIDE of California - this is a spectator sport.
The only think it might be for the rest of us is a snapshot of what the
US
economy might look like when the SS entitlements overwealm our revenues.
Arnold is up against a massive amount of spending that people of
California see
as a right now.
I think it should now be obvious the solution to that problem is
massive tax cuts while increasing spending. The only problem being,
how does California go to war to distract the public from it's
financial quagmire?
bb
Don't forget the concept of borrowing until the state's S&P bond rating is
lowered to at least B-. That always helps. Then, you can issue the NEXT
generation of bonds at 11%, or whatever number is double the rate which
healthy communities are getting.