Schwarzenegger Asks Feds for $7-billion Emergency Loan
In a letter obtained by The Los Angeles Times, the governor warns that tight credit has dried up funds California routinely relies on and it may have to seek emergency aid within weeks.
Arnold Schwarzenegger was first elected in a recall election to replace Democrat Gray Davis to clean up a budgetary mess. Arnold has done nothing but borrow and spend his entire tenure as California Governor. The Democrat Legislature has done nothing but accomodate an increase in government spending.
A pox on all of them.
But, Arnold, the worst mistake the California GOP has made in decades still has time to be the celebrity as he is:
California First Lady Maria Shriver, right, speaks to the crowd as Governor Arnold Schwarzenegger looks on after they received the ‘Family Visionary Award’ at the Habitat for Humanity ‘Building a Better Los Angeles’ gala in Beverly Hills, Calif., Wednesday, Oct. 1, 2008
President Bush has now signed the $700 billion bailout bill and undoubtedly there will be more liquidity in the financial markets, California will obtain its revenue anticipation loans and will be able to meet its financial obligations. However, this does not excuse the fiscal mismanagement perpetuated by Arnold and the California Legislature.
If the legislative and Congressional districts were not so partisanly gerrymanderd, heads would roll at the November elections.
The verdict is out whether Arnold will be recalled himself this next year.
Flap bets no for now. However, Arnold is finished for any future elected political office though – another Jesse Ventura.
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One Comment
Eva Mendes
$7 billion is lot of money. Seems that bailout fever is taking over.