You increase spending, of course!
He also said he will expedite $20 billion in school, housing, water and park bonds approved by voters last year, creating construction jobs ahead of schedule.What a novel idea. Instead of doing something constrctive to restrain state spending, Davis wants to borrow his way out of the problem. Look for Standard and Poors to rate California state bonds somewhere below Enron stock.
But wait a minute! Is Davis making up some of the problems?
And it now appears that Davis, apparently for a variety of political reasons, is overstating the problem by as much as $7 billion, budget analysts outside the administration's Department of Finance believe.Another brilliant move! Overstate the shortfall by $7 billion, and you can propose "spending cuts" that won't actually be cuts. And once he demonstrates his fiscal restraint in this manner, tax increases will seem more politically acceptable. G*ddamn bastard.
