Wednesday, January 16, 2008

State Money Grab: Just Say No!

So California is $14 billion in the hole and the governor is bound and determined not to raise taxes... what to do?

The obvious answer is to "hike fees" because in Arnold's world, that's different from a tax increase. But what about a good, old fashioned money-grab?

When that last G.D. Governor ("Gray Davis"... c'mon this is a family blog!) had us behind the 8 ball, Sacramento started raiding the reserves of local and special districts throughout California. This didn't sit well with the South San Joaquin Irrigation District boss Jeff Shields so this time around he decided to get out in front of things.

Shields moved $10 million in SSJID surplus funds out of the very public and raidable Local Agency Investment Fund, and into private sector investments where Sacramento can't get its paws on it!

No word yet on the Guv-ernator's response but this shows that public power guys are not to be trifled with! If this catches on, no telling if we'll actually dig our way out this budget mess, but at least energy dollares will remain energy dollars!

SSJID moves $10M out of state's reach [Manteca Bulletin]