Schwarzenegger says he will veto Calif. budget (despite likely override)

[Newsjock]

Source: Fresno Bee

Gov. Arnold Schwarzenegger on Tuesday rejected the budget passed hours earlier by the Legislature, pledging to veto it for failing to meet his reform demands and solve California's persistent fiscal problems.

If Schwarzenegger follows through on his threat, it would mark the first time in modern history that a California governor would veto a state spending plan. It set in motion a historic showdown with the Democratically controlled Legislature, which has said it is prepared to override the pending veto.

... The budget deal generated just enough Republican support to reach the two-thirds threshold needed for approval. Its main feature requires Californians to pay their income taxes sooner, a maneuver designed to close a $15.2 billion deficit without borrowing or imposing new taxes.

... He also reiterated a threat he made during the impasse to veto any bills sent to him until a budget deal had been struck. If lawmakers override his budget veto, he will take a hard line on their legislation, potentially wiping away a year's worth of work.

Read more: http://www.fresnobee.com/updates/story/869337.html

[proud patriot]

1. that would be a big mistake

people are getting impatient as it is .

[Cleita]

2. I hope he hangs from it.

Once we get rid of him, how are we going to make sure an elected governor is never recalled for petty political reasons again?

[Greyhound]

8. Me too, but I fear what the state party will put in his place.

The parties, like Sacramento itself, are always a decade behind and too heavily skewed toward Big Ag and the north.

CA has my sincere sympathies, as screwed up politically with more unrealized potential than anyplace I've seen.

Governors aren't recalled easily, Davis screwed the pooch really bad in 2001 and would've lost to anybody else in the election. So don't put in another Davis and the recall issue is solved. If we had a national recall, we might have shortened the reign of terror we've lived under.:shrug:

:kick: & R

[Massacure]

3. How does paying income taxes earlier increase revenue by $15 billion?

The only thing that comes to mind would be earning interest on it but the state isn't going to get fifteen billion dollars worth.

[Newsjock]

4. They're taking a *lot*

State tax withholding is being increased by 10%, which amounts to about a 1% *cut* in everyone's take-home pay for the next year. It's only a "loan," of course, and we get it back in our refund in 2009, but we lose that money until then.

Way to "stimulate" the California economy, morans.

[slackmaster]

6. If they increase withholding rate, I will have to increase my state exemptions to compensate

I am running a VERY tight budget, and didn't plan for having to loan money to the state of California.

FUCK THAT!

[slackmaster]

5. The budget consists mostly of accounting gimmicks

Shell-game tricks that would get the CEO of a public stock corporation indicted.

[Greyhound]

9. More $$ in sooner gives some, not taking bridge loans gives a lot more. n/t

[AndyTiedye]

7. Time for "Total Recall, The Sequel"