Wednesday, October 24, 2012

California budget hole swallows mortgage aid

This reminds me of the Start Trek episode call "The Doomsday Machine". A weapon so powerful it would devour anything in its path.  Unfortunately, it also destroyed those who built it.

CA government is set to devour all in its path, too.

Sacramento’s insatiable appetite for spending has swallowed other well-intentioned funds. “From 1998 through 2010, California collected nearly $22 billion from a lawsuit settlement with tobacco companies and from cigarette taxes,” the Sacramento Bee reported in May. However, “(J)ust 6 percent of the money collected from a massive lawsuit settlement and from cigarette taxes went to tobacco interdiction and education programs ... far below federal spending guidelines for effectively curbing tobacco use.”

Based on this history, when Gov. Jerry Brown and other supporters of the Proposition 30 tax increase tell voters the extra money will go only to education, should they be believed?

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