California Applies for Ditech.com Consolidation Loan
(2003-11-19) -- Gov. Arnold Schwarzenegger today went online to apply for a $15 billion debt consolidation loan for California from Ditech.com.

"I have heard that you can borrow up to 125 percent of the value of your property," said the new Governor, "We'll combine all of our monthly bills into one easy payment."

Mr. Schwarzenegger said that California would then go on a strict budget, setting up a system of manila envelopes for each category of expenditure -- public schools, highways, police.

"When we get money, we put it in the envelopes," he said. "When an envelope is empty, we can't have any more of that service until we get more money in the envelope."

The Governor also said he would cut up the state's credit cards.

www.scrappleface.com/MT/archives/001366.html

"When we get money, we put it in the envelopes," he said. "When an envelope is empty, we can't have any more of that service until we get more money in the envelope."

Dave Ramsey will be proud.

This is going to go over like a lead ballon with the Dems, those folks can't seem to get it through their thick heads that the state is broke. You can tell that Arnie's term of governor is going to be very contentious because Senate pro-tem John Burton didn't even bother to show up at the Arnie's inaguration, even thought the head Republicans and Speaker of the Assembly showed up. This is going to get good.

Stay tune for the next exciting chapter in the saga of the Terminator goes to  Sacramento.

Guys, Scrappleface is a parody site.

It's a joke.  

Please pay attention to the dry humor.

Quoted: Guys, Scrappleface is a parody site. It's a joke.   Please pay attention to the dry humor.

Although it has been suggested as a one time fix. Course they gotta figure out what the debt really is.  Then they can look at what can or should be done.

We can recoup some of that by selling body parts to medical schools and mad scientists.  Where do we get them?  Convicts of course.

Quoted: Guys, Scrappleface is a parody site. It's a joke.   Please pay attention to the dry humor.

What humor?

CW in CA

On a serious, if he really thinks he can finance our debt through a bond issue, he is friggin' insane. Especially given our current credit rating.

Scrappleface is great satire.

Arnold is proposing about a $15 billion dollar issue right now, lower than the $20 I would have thought.  Some of this will replace "illegal bonds" already placed "illegally" by the legislature.  Also money borrowed from the STRS and other state funds with no provisions for payback will be be included IIRC.  In other words he will do it right and up front, not the sly and slippery way of the past which hid the damage from view and hoped for a better economy while spending and hiring kept going up.