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

WWW.ASM.CA.GOV/WAGNER ASSEMBLYMEMBER.WAGNER@ASSEMBLY.CA.GOV 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. Click to continue reading “Does the Governor’s Budget Pay Down “Wall of Debt” or Simply Add More Bricks to the Wall?” Make Your Voices Heard!

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