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Governor Urges Investing In California

Governor Schwarzenegger was Tuesday’s KVML "Newsmaker of the Day". Here are his words:

"Hello, this is Governor Arnold Schwarzenegger with another California Report.

Last week, I talked to you about a great package of bills that I just signed to spur job creation up and down the state of California.

This week, I have some more great news that will help get jobs and our economy back.

We all know a huge economic driver and job creator, is infrastructure.

Every billion dollars we invest in infrastructure creates 18,000 new jobs.

I have been interested in infrastructure and rebuilding California ever since I got elected. And I’m proud that since taking office, you have joined me to approve $60 billion for roads, schools, housing, prisons, levees, high-speed rail, and the list goes on and on.

Now, what’s very important is to get those bond dollars out the door.

That’s why I’m working with Treasurer Bill Lockyer, so we can sell those bonds as quickly as possible and put people back to work and rebuilding our great state.

Last year, California sold more than $20 billion in infrastructure bonds.

And just this last month, the Treasurer had planned to sell an additional $4 billion in bonds.

Yet the demand was so great, we ended up selling $5.9 billion in bonds.

I am thrilled that so many people are eager to invest in California.

It is a great sign of confidence in our state and also in our future.

Now, I know that many of you have heard the pundits on TV, bemoaning California’s budget problems.

You’ve probably even heard some talk about California as a "failed state," or we’re going "off the cliff."

Well let me tell you, don’t listen to them.

They don’t understand California’s tremendous economic engine.

They don’t understand that despite our budget woes, we are still the eighth largest economy in the world.

And they certainly don’t understand that going back to the Great Depression, California has never defaulted on a debt payment and we never will.

We are like the Rock of Gibraltar, able to weather and withstand even the worst of economic storms.

This latest bond sale proves once again, that despite serious problems in the global economy, investors have enormous confidence in California. And they are right to.

Over the next few months of course, Treasurer Lockyer plans to conduct even more bond sales.

So I ask all of you: help keep California great. Invest in our Golden State.

Remember this, visit BuyCaliforniaBonds.com. Let’s go and work together and keep investing.

Thanks for listening."

TheĀ "Newsmaker of the Day" is heard each weekday morning on AM 1450 KVML at 6:47, 7:47 and 8:47am.

Written by mark@mlode.com