Daniel Weintraub reports that the Prop 57 bail-out bond issue is trailing slightly. Since I'm probably going to vote No on that (and the other 3 as well), I'm not particularly upset. To paraphrase Ronald Reagan, "Deficits should hurt."
But what is surprising is that the Prop 55 school bond is leading handily. One would think that fiscal responsibility means not spending money you don't have when you can't pay for what you've already bought. Even the LA Times opposes these schools bonds, surely a first. If 55 passes and 57 fails, those school bonds will go for 13%. Some pain is needed, but this is masochism.
Do you think maybe California would do well to get rid of these Propositions on the ballot? Or at the least, define certain circumstances (such as financial) where some proposition could be swept aside.
Posted by: linden at February 24, 2004 12:21 PMNo
Posted by: Kevin Murphy at February 24, 2004 03:41 PM