FOR IMMEDIATE RELEASE CONTACT: Drew Mendelson
June 26, 2006 (916) 653-4052
Statement Of State Treasurer Phil Angelides On Governor Schwarzenegger's Budget
SACRAMENTO, CA - California State Treasurer Phil Angelides made the following comments today in response to the announced agreement on Governor Schwarzenegger's budget:
"Despite his repeated pledges to cut up the credit card' Governor Schwarzenegger has produced a budget that still leaves a $3.3 billion structural budget deficit for 2006-07 and more deficits for years to come. It is a budget that will continue to shift the burden of today's deficits onto the backs of future generations.
"Three major bond rating agencies, Fitch, Moody's and Standard & Poor's, have corroborated my warning and that of the Legislative Analyst that while state revenues have improved, California's fiscal condition will remain insecure until the state produces balanced budgets.
"On higher education, Democrats in the Legislature did the right thing, when the governor would not, and gained a $6 per unit rollback in community college fees. That is a start. But the governor's budget will still leave community college fees nearly double what they were just three years ago. And the budget will also leave untouched the fees at CSU and UC, which have increased by $2,000 and $5,000 respectively under Governor Schwarzenegger.
"The governor also failed to get members of his own party to agree to a budget that funds health care for more kids from low-income families on the Healthy Families program regardless of the families' immigration status. Compassion requires - and intelligent public health practice demands - that all people residing in California have access to adequate health care."
http://www.treasurer.ca.gov/news/releases/2006/20060626_budget.pdf