Friday, October 8, 2010
California Governor Arnold Schwarzenegger made a stop here Friday to praise the passage of a state budget.
SAN DIEGO California Governor Arnold Schwarzenegger made a stop here Friday to praise the passage of a state budget.
The governor pushed the idea of California creating a rainy-day fund to protect state services when the economy dips. He also praised the pension reforms written into the budget, which Schwarzenegger said will save CalPERS up to $100 billion in the coming years.
"The pension has become, really, the silent thief I call it of our treasury. It takes money away from existing programs, from programs that we all love, like higher education, kindergarten through 12th, public parks," he said.
Schwarzenegger said last year the state spent more on pension than it did on higher education.
The governor also addressed the possible sale of the Del Mar Racetrack. He said the government shouldn’t be in the real estate business.