What happened to 'pay as you go?'
Last updated 10/27/2006 at Noon
Bush’s surrogate in California, Governor Schwarzenegger, attempted to balance the budget without raising taxes by slashing badly needed programs. He quickly learned that this arbitrary policy would not fly with the California electorate. So he was left with the choice of raising taxes to pay for the badly needed programs, or to borrow the money (bond issues) to find the programs now but delay the payback for years — to be repaid eventually (with interest) by generations not even in the workforce yet! Please, someone educate me. Why is it better to borrow the money with interest for needed programs now than it is to honestly raise taxes now and have the current workforce pay for them?
If we allow all those bond issues to pass next Election Day, we should be ashamed to look our children in the eyes! What ever happened to the tried-and-true GOP principle of “pay as you go?”