California Governor Arnold Schwarzenegger rolled out a budget today that includes record revenue, and eliminates the operating deficit. The $143 billion dollar plan also clears the way for a second massive round of borrowing for public works projects such as prisons, dams and schools. Governor Schwarzenegger called it a responsible proposal – and indicated it was in line with his “centrist” approach.
Schwarzenegger: It’s a prudent and realistic budget – a budget that lives within our means yet still provides crucial services for the people. It is a budget that moves California, not to the right, not to the left, but it moves California forward.
The plan includes $57 billion for K-12 education, more than $7 billion for higher education, as well as money to increase the number of kids on the state’s healthy families program, and millions to implement the state’s new cap on greenhouse gas emissions.
Democrats say they’re pleased the Governor wants to fully fund education – but will fight cuts to the state’s welfare-to-work program.
Republicans say a zero deficit is good news – but question whether the state can really afford the massive new bond spending proposals.
