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Governor Arnold Schwarzenegger Discusses State Budget

In today´s Newsmaker on AM-1450 KVML Governor Schwarzenegger spoke out about the California Sate Budget:

Hi, this is Governor Arnold Schwarzenegger with another California Report.

Another week has passed and still California has no budget.

It is now more than two months late, but Republicans and Democrats remain stubbornly entrenched in their ideological corners.

Republicans demand more cuts and want to borrow from local government and transportation.

But the state is still paying back the billions of dollars of debt left over from the previous administration.

Taking out even more loans now, before we have paid back the old loans, would be fiscally irresponsible. Imagine a family getting overextended on one or two credit cards, and then taking out a third credit card and continue spending more than they make.

That´s not a solution. That´s a disaster.

And the last thing the people want is to steal money from their local government and transportation.

That money is needed for police and fire protection, for parks and libraries, for street and highway repairs and for other projects that keep traffic moving and create jobs. At the same time, the Democrats demand billions and billions of dollars in permanent tax increases.

But it´s not fair to punish the people of California because we have not come up with a sound budgeting system.

That is why I say, let´s meet in the middle. Let´s compromise.

So this week I proposed a compromise budget that raises the sales tax one-cent, but only temporarily, for three years.

That would be enough to help get our finances back on solid ground, and then the increase would go away and be followed by a permanent sales tax reduction, below its current level.

My compromise proposal also makes $2 billion in additional cuts, and most importantly, reforms our dysfunctional budget system.

I´ve been fighting to get that done since 2003, since I´ve come into office, because that is the only way to end Sacramento´s chronic deficits and reckless overspending, once and for all.

It´s time to face these problems head on.

Albert Einstein said that insanity is doing the same thing over and over again and expecting a different result.

It was year after year of overspending and borrowing that put us in this mess.

I need you to call the legislators and tell them: stop the insanity, stop the overspending, stop the borrowing. Don´t continue to kick the can down the alley.

Come together and compromise on an honest budget that makes the tough decisions, but that also fixes the system so California never has to go through this madness again.

The Newsmaker of the Day can be heard each weekday morning at 6:47, 7:47 and 8:47 on AM-1450 KVML.

Written by Mark Truppner