Borrowing to fight a nonthreat

by Julie Walsh on March 13, 2008

Despite next year’s projected $8 billion budget deficit, Gov. Arnold Schwarzenegger is so intent on implementing costly regulations and mandates to “fight global warming” that he now wants to borrow money to pay for the crusade. This is bad policy on at least two fronts.

Even Sacramento Democrats see the danger in resorting to another ill-conceived fiscal fix by borrowing $67 million over two years from the state’s beverage container recycling fund, which is supposed to repay consumers who recycle bottles and cans. The loan would be repaid with interest.

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