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March 28, 2008
Financial nonsense wins out
California's Assembly approved $5.3 million spending on salmon fisheries. Doesn't sound to horrible in isolation, but. . . .
1. California is wrestling with a $14-20 BILLION budget deficit. Time for hard core prioritization.
2. The money to be spent comes from a water infrastructure bond approved in 2006. So the idea is to use debt to pay for a programatic expense, not for infrastructure. So we can pay interest on a one-time expenditure and benefit. Brilliant.
Posted by adrianm at March 28, 2008 12:26 PM
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