OC Political

A right-of-center blog covering local, statewide, and national politics

  • Custom Campaigns

    Custom Campaigns
  • DMI

  • No On Yorba Linda Recall

  • Allen for Assembly

  • Ming for Supervisor

  • Ramos for Costa Mesa

  • Bennett for Fullerton

  • Lalloway for Irvine

  • Sachs for Mission Viejo

  • Grangoff for Orange

  • Alexander for CUSD

  • Glasky for IUSD

  • Contact Us to Purchase an Ad

  • Lincoln Club of Orange County

Asm. Wagner: Does the Governor’s Budget Pay Down “Wall of Debt” or Simply Add More Bricks to the Wall?

Posted by Newsletter Reprint on January 19, 2013

This came over the wire from Assemblyman Don Wagner’s office yesterday…

California State Assembly Seal
Don Wagner | District 68

Image

Does the Governor’s Budget Pay Down “Wall of Debt” or Simply Add More Bricks to the Wall?

Governor Brown has made paying off budgetary debt the cornerstone of his fiscal austerity program.  The Republican Leader of the Assembly referred to this as “channeling his inner Republican” in a recent radio interview.  This raises the following questions: what is budgetary debt?  Why is it important to pay it off?  Does the Governor’s budget meet that challenge?  The Fact Check found:
  • California budgetary debt topped $35 billion at its height.  As of the end of the 2012-13 budget year, California will owe $27.8 billion in budgetary debt.
  • While the Governor committed to repaying debt if his taxes were approved, his current budget lowers debt payment by $1 billion, putting repayment behind schedule.
  • Using one-time money to pay back budgetary loans would help the state avoid a fiscal cliff in the future.

Make Your Voices Heard!

DISTRICT OFFICE
3 Park Plaza, Suite #150
Irvine, CA 92614
(949) 863-7070, (949) 863-9337 fax
CAPITOL OFFICE
State Capitol
Sacramento, CA 95814
(916) 319-2068, (916) 319-2168 fax
Facebook Twitter
© 2013 ASSEMBLY REPUBLICAN CAUCUS | DISCLAIMER

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
Follow

Get every new post delivered to your Inbox.

Join 989 other followers