October 18, 2002

State Proposition 50

PROP 50: Water Quality Supply and Safe drinking Water Projects, Coastal Wetlands Purchase and Protection BONDS. (An Initiative submitted by special interest groups).

Proposition 50 is asking the voters to indulge in CREDIT CARD spending. The proponents, who submitted this Initiative, are asking you to agree to borrow up to $6.9 BILLION DOLLARS through the marketing of State Bonds. They want you to indebt your children and grandchildren and compromise their future for 30 years. It is asking you to bypass your government and burden the state with a 6.9 billion dollars to pay for their special interest project that may or may be needed!

PROP 50 is asking that you bypass the normal State Budget Process, ignore the current debt load the state has, and to ignore whether we have the income to pay off the debt. Whether there is adequate security in the future to be able to pay the accumulated state debt, is not a question that is being asked.

No matter how worthy the project may be, keep in mind that the state is already indebted by $500 BILLION DOLLARS! This is money that you the taxpayers have to pay back. The only solution will be, for the politicos i.e. State government is to raise everybody’s taxes over and over again until the state becomes solvent again. When that happens your take home pay to support your families may be reduced to the point where you can’t even feed your own children.

Reject Proposition 50 and tell those special interest people who keep submitting these Initiatives, without any thought as to where the money is coming from, that it is over with! When the state has A BALANCE BUDGET AND HAS AMPLE RESOURCES TO PAY FOR THESE DREAM PROJECTS, then, submit your special projects through the elected bodies where your special projects can be vetted through. Say NO MAS! The buck stops here!

Stop the raid on your State Treasury!

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