Gov. Arnold Schwarzenegger will unveil a spending proposal
today that calls for borrowing against future profits from
the state lottery to help close what is expected to be a
$15.2 billion budget deficit in the new fiscal year,
administration officials said late Tuesday.
Schwarzenegger plans to ask Wall Street investors to give
California a lump sum of $15 billion in exchange for three
years of the state lottery's revenue, said Aaron McLear,
the governor's spokesman.
The plan would require voter approval because the state
lottery was installed as a result of a ballot initiative
that promised to help fund education. If voters reject the
idea, the governor proposes a tem****ary 1 percent increase
in the sales tax, which would expire in 2011.
What will we do next year, R-nold? More dodgy tax hikes
to benefit jews, mexcrement, and niggers.
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