September 30, 2003

Code Burnt Sienna. Code Burnt Sienna. We Have a Mental Health Emergency on Our Hands

The Sacramento Bee's Dan Weintraub talks about what a Schwarzenegger budget might look like. It involves raising taxes--on Indians! And Texans!!

California Insider - What a Schwarzenegger budget might look like: ...none of the major candidates has leveled with the voters about the pain that will be required to balance the next state budget. [By the way, that's a lie: as the end of the Bee column admits, Bustamante has in fact done a reasonable job of laying out an option.]... a Schwarzenegger budget... the only way out for him would be the federal government... wouldn't President Bush... love... to bail out California -- and Schwarzenegger -- from a mess left by the... Democratic governor?... Republicans in Congress, eager for fundraising and campaign help from their celebrity governor, might also go along. At a minimum they could structure some or all of it as a federal bailout package, a loan to be repaid over 20 years.

If Schwarzenegger could get something on the order of $5 billion from Bush, $1 billion from the Indians, and $1 billion from a McClintock-style scouring of state government, and couple that with $2 billion in budget cuts of the kind proposed earlier this year by Gray Davis but rejected by the Democrats in the Legislature, he might be in the ballpark of a balanced budget...

If Dan Weintraub really believes that Tom DeLay will bless a $5 billion present from the taxpayers of Texas (and the other 48 states) to the taxpayers of California, Weintraub needs more than therapy: long-term hospitalization and powerful psychoactive drugs would be his only chance for sanity.

Posted by DeLong at September 30, 2003 12:45 PM | TrackBack

Comments

This is is a classic con game, as someone else (maybe Calpundit) pointed out recently. Schwarzenegger hasn't laid out any reasonable plan, but that's ok with Weintraub because he thinks he's in on the con. He thinks he knows the white house will bail Arnie out. As you rightly point out, Congress is unlikely to go along, even if the WH wanted to (and why would they?). Not only will DeLay not give money to CA, but it would open the door, set a precedent and so on for all the other governors who can't balance their budgets, and all of the states (regardless of party affiliation of their governor) are having this problem.

Posted by: halle on September 30, 2003 03:25 PM

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Weintraub's conduct during these last stages of the recall campaign have been really pretty shocking. He purports to maintain a certain neutral though conservative punditry. In fact, he has been one of Arnold's biggest boosters.

The budget situation could be much much worse than we think. One state court has already invalidated a $2 billion bond deal to cover shortfalls in payments to pension funds. Another lawsuit, filed a little later, challenges the borrowing to cover the shortfall in the general fund on the same theory. So, instead of needing to find $ 2 billion in new money, the next session of the legislature could need to find more than $ 22 billion. The lawsuits were brought by the Howard Jarvis Foundation, which is very familiar with the arcane practices of California budgeting.

Weintraub's dream bailout, in order to deliver California to the Repubs in '04, just got a little more pricey.

I can't wait for the Tribes, which are solidly democratic in recent years, to voluntarily pay an extra billion in taxes.

What's the name of that strong anti-psychotic drug? Lithium?

Posted by: FDL on September 30, 2003 03:29 PM

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LOL. Yeah, Weintraub has been a joke on the recall. He certainly knows any Governor has no ability to get the Tribes to pay $1B more in taxes. And then there's this alleged $1B in waste that's hanging around in state government that nobody will identify. Weintraub's just dreaming. or delusional, as you say.

Posted by: halle on September 30, 2003 03:52 PM

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Isn't Bechtel Headquartered in San Fran?

I bet something can be arranged.

Posted by: Jon H on September 30, 2003 04:03 PM

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Good one Skip. Not a single useful comment in that, just a bunch of blathering BS. Excellent. Nice troll. Do you think Delay will be interested in providing $5 billion to California?

If Weintraub really believes what he wrote give me 2 of whatever he's having!

Posted by: Gideon S on September 30, 2003 04:35 PM

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Teach, I think you are being a little hard on Weintraub today. Actually, Weintraub's Bee column acknowledged that Bustamante comes closer than anyone else to putting his cards on the table -- but also itemized the gaps in Bustamente's plan. He also merrily pointed out that McClintock assumes a "savings" from the park budget bigger than the budget itself -- just the sort of detail I should think you would enjoy. Re the arithmetic of a Fed bailout, I thought Weintraub's own numbers alone made your point -- i.e., that pigs will fly before it happens.

Posted by: Buce on September 30, 2003 04:53 PM

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Skip you have just bought yourself troll-hood with your vitriolic personal attacks on first the owner of the weblog, and second on someone pointing this out. My advice is to take your neanderthalic mind set and go to a site where such behavior is appreciated, say FreeRepublic.com. Whatever ridiculous personal insults you might have will only serve to lessen the cause you claim to advance here. Please save this sort of behavior for locker rooms and toilet stalls.

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