Monday, November 24, 2008

Gimme My Bailout -- State of California!

From The Sacramento Bee:


Assembly Speaker Karen Bass touted Uncle Sam as a realistic savior Wednesday for California's multibillion-dollar budget shortfall – but critics say the tactic could backfire by raising false hopes.

"I'm still concerned that some folks are looking at this in isolation and not in its national and international context," Bass said of a projected budget gap of $27.8 billion over two years.

Rather than Gov. Arnold Schwarzenegger's approach of bridging the gap by roughly a 50-50 formula of tax increases and program cuts, Bass said it's realistic to turn to federal officials for a bailout that would avoid cuts.

"I don't want to go there," the Los Angeles Democrat said of cuts to education, health care or other key services. "I want to split the baby in half, too. I want to do 50 percent revenue, and 50 percent support from the federal government."

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