In the wake of his failed corporate takeover of California, it appears that Governor Schwarzenegger has apparently decided to take a page from the Rovian playbook,
seeking to plunge the state (not to mention future generations) into tens of billions of new debt and no doubt generously subisidize many of the same corporations whose interests voters just thumbed their noses at this past week.
Massive State Bond Possible
At a cost some peg at $50 billion or more, Schwarzenegger seeks an infrastructure program reminiscent of the Pat Brown era.
SACRAMENTO -- Coming off a losing campaign to curb state spending, Gov. Arnold Schwarzenegger is promoting a statewide public works program that may be financed by a bond sale so large it would dwarf previous state borrowings.
The governor hopes to join with Democratic leaders and businesses to address Californians' growing frustration with clogged roadways, polluted water, hospital shortages, overcrowded schools and, in the wake of the devastation in New Orleans, inadequate disaster preparedness.
I don't buy it, not for a second. California has to be sure failed to make adequate infrastructure investments in recent decades, but this governor has demolished his credibility as a rational and responsible centrist, and I see no reason to believe that this bid will be anything another than an effort to trap Democrats. Schwarzenegger will send up a measure loaded with sweetheart deals and massive, superfluous giveaways to big GOP donors. The press will hail him as the second coming of Pat Brown (it looks like the LA Times already has) and anyone who opposes his plan will be dismissed as a heartless extremist. Schwarzenegger's people know that significant opposition from the conservative wing of the Republican Party will be forthcoming, and they will use that opposition to bolster the initiative's credibility with moderates, and to restore his image as a centrist.
California is broke. It does need billions in new infrastructure investments. But first it needs a significant tax hike on top bracket (couldn't Schwarzenegger have summoned Governor Reagan - who raised taxes on the state's wealthy - instead of Colonel Rove?), reform of prop 13 (so that businesses and the wealthiest Californians start paying their fair share of property taxes), and a governor Californians trust enough to wisely invest in the state's future, not just dole out corporate welfare boondoggles to Republican Party special interests.