Schwarzenegger Won’t Borrow Local Revenues
Friday, August 29, 2008
California Governor Arnold Schwarzenegger visited San Diego today to reassure local officials that he does not support balancing the state budget by borrowing from local government revenues.
It’s fiscally irresponsible to take money from local government in order to close that hole that we have, that 15 billion dollar deficit We all know that local government needs that money very badly, that money pays for police and fire protection and it pays for the lib
Schwarzenegger says he will uphold California’s Proposition 1A, which prohibits the State from borrowing local government property and sales tax revenue.
The measure passed just four years ago.
If California’s budget deadlock is not resolved by next week, the Governor may cancel his scheduled appearance to speak at the Republican National Convention in Minnesota.