The LeftCoaster explains how Arnold S. has already failed before even starting. Snippet:
If you start with the $8-9 billion remaining deficit to be solved for FY 04/05, and add to that the $3-4 billion in additional costs stemming from the renewed promise of repealing the VLF increase, the $2 billion additional costs stemming from the court invalidation of the retirement cost bond measure, and add to that Arnie's other promises of a business tax cut and his again repeated promise of no new taxes, you are left with a deficit of upwards of $15 billion.
Since Arnie has now hung himself with a "no new taxes" pledge, and since more borrowing is not really an option, he has to find that money from spending cuts. Frankly, if you take education off the table, as he promised during the campaign, and factor in the fact that there is no support for serious spending cuts as polls have shown, the simple fact is that Arnie has already on the first day of his coronation put himself into a box. |
DaliyKOS adds a blueprint to judge Arnold's first 100 days.
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