Bloomberg Report: California worse off under Arnold than Gray Davis

Be sure to thank those Republican politicians and operatives who helped recall Governor Gray Davis in 2003 and gave us Governor Terminator.  This story from Bloomberg News shows that California is actually worse off today than we were under Governor Davis.

As the most populous U.S. state, with a gross domestic product that’s No. 8 in the world, California is so strapped for cash that it must consider a short-term, $10 billion loan to cover its bills. The widening deficit means the financing may be about 0.85 percentage point more expensive than five years ago, when Davis lost his job over a budget gap twice as large as the $17 billion deficit the state now faces. That’s an added $8.5 million on every $1 billion borrowed.

While banks also are charging as much as four times more for lines of credit to back the debt, the state’s plight can’t all be blamed on Schwarzenegger any more than he could blame Davis five years ago.

The story notes that California started 2007 without a budget deficit and by the end of they year, we were in a financial emergency.

So where’s the thunder cry from the right wingers out there for a recall of this Governor? All those reasons that they used to justify yanking Gray Davis are even worse today.  Why not a recall? Or should Arnold start fundraising for a run at the US Senate?

  6 comments for “Bloomberg Report: California worse off under Arnold than Gray Davis

  1. Hind sight...
    July 1, 2008 at 1:22 pm

    I wish I could go back and smack every petitioner that wanted to recall Davis over the budget. The recall/anti-recall was so bitter and hateful and masterminded by a guy that did it only because he wanted to be the Governor him… Darrell Issa. What a tool.

  2. Steven Greenhut
    July 1, 2008 at 2:58 pm

    Of course it is. He is following most of the same borrow-and-spend policies as Davis. Dan — you are such a shameless partisan. Look at policies rather than party for a change! They both are terrible governors. By all means, let’s recall this one too.

  3. Dan Chmielewski
    July 1, 2008 at 3:47 pm

    Steve — I never said Gray Davis was a good governor, but he was duly elected by the people and when Republicans here can’t win at the ballot box, they look to the courts, ballot measures, or recalls. Their whining to the policized recall of Senator Jeff Denham is an ideal example. It was a partisan, political witchhunt against a Republican.

    Me. A shameless partisan. Guilty as charged your honor. Just be sure to float that charge back to my friends on the other side of the aisle.

  4. RHackett
    July 2, 2008 at 6:00 am

    I tell all my conservative friends that I think Arnold is a good governor and I thank them for recalling Davis and helping elect him. The ensuing eye rolling would put a 12 year old to shame.

  5. junior
    July 2, 2008 at 6:48 am

    The problem is that the recall of Davis did not go far enough. The entire California state legislature should have been recalled.

    Gray boy had multiple problems, not only running a budget deficit. Such as an unpopular vehicle tax and bungled management of the state’s energy situation.

    Dan – The last time I looked, ballot measures and recalls are accomplished through the ballot box.

  6. Dan Chmielewski
    July 2, 2008 at 3:26 pm

    Steve – quick question, but do you ever call Matt Cunningham or Jon Fleischman shameless partisans? What about tate Rep. Chuck DeVore or Mike Schroeder. Just checking….

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