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Julian , California
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March 7, 2012     The Julian News
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March 7, 2012
 

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March 7, 2012 The Julian News 13 00orna00ommnta ill00 n00Ty I Government Finance 101 : '1 W,II Gladly Pay You Tuesday ... " byJonCoupal iii;; e/[a. ,;(;]gRea]e.o1,.pl I Sacramento politicians and In a rational world, this would Japanese censors during WWll be called a failure by government share a similar philosophy-- they and the public would be alerted, do their best to prevent the public but Sacramento is quiet about this from learning of their leaders' mistakes. The turning point of WWll in the Pacific was the battle of Midway- where the Japanese fleet suffered a catastrophic defeat with the loss of four aircraft carriers. The response of Japanese officials was to announce a victory. Seventy years later, Sacramento officials deal with failure in much the same way. Here, thanks to research by California Watch, a project of the nonprofit Center for Investigative Reporting, is some bad news the politicians do not want you to know. A major bond rating agency is warning that California may not be able to repay $4 billion borrowed against the ten year old settlement with tobacco companies that would pay states approximately $246 billion over a 25-year period to compensate for tobacco-related health care costs. The problem? The money was not guaranteed, but tied to tobacco sales, and the number of smokers is declining more rapidly than anticipated. After the agreement was finalized, state and some local governments issued $16 billion in bonds against California's share of the anticipated revenue, a process known by insiders as "securitization." This allowed Gov. Gray Davis and other officials to continue to ramp up spending; without having to deal with growing deficits. It was the J. Wellington Wimpy -- Popeye's buddy -- approach to government finance, "rll gladly pay you on Tuesday for a hamburger today." Now we are finding that all the hamburgers have been eaten and California taxpayers may be on the hook for billions of dollars borrowed against phantom tobacco receipts. problem because this approach to papering over deficits is not unusual. Rather than limit spending so that it is line with realistic revenue expectations, the political class is constantly searching for gimmicks. In 2009, Gov. Arnold Schwarzenegger worked with the Legislature to develop a complex measure, Proposition 1C, to securitize lottery revenue and advance the state $5 billion. Fortunately, voters saw through the scam, and rejected this along with the $16 billion in higher taxes that appeared on the same ballot. And, in. his last year in office, Schwarzenegger pushed to sell a number of state buildings. The idea was to sell the buildings for cash now, and rent them back. The long term implications were so expensive to taxpayers that the Office of the Legislative Analyst said it would be much cheaper to issue bonds to raise the desired revenue and, after Gov. Brown was sworn in, he put an end tothis ill-conceived effort. The lesson here, of course, is that there is no free money. Whenever officials engage in securitization of revenue or assets, you can bet that the long term impact on taxpayers will be negative. When securitization takes place, with a resulting temporary infusion of cash, the politicians will declare victory and claim it is the result of their good stewardship of government. However, when the bill comes due for their malfeasance, they are nowhere to be found. Jon Coupal is president of the Howard Jarvis Taxpayers Association -- CaMornia's largest grass-roots taxpayer organization dedicated to the protection of Proposition 13 and the advancement of taxpayers' rights. In our Country we have those three unspeakably precious things. freedom of speech, freedom of conscienee, and the prudence never to practice either. -- Mark Twain R.F.D. DON'W LICIZ, q:X KMIFE, I I! by Mike Marland  E."F, ODDLL ENOUGh, VVE E.NCC- . TO CKTI416 WICKED-C-3HAIP, FOL-PtGNGED IMPLE/E-N-r,lt,Ero I-tE. MOO'T OVE. A by Linda Thistle 2 9 8 1 9 3 4 4 8 5 1 6 9 4 8 7 6 2 5 1 3 7 2 9 5 5 6 4 6 4 1 Place a number in the empty boxes in such a way that each row across, each column down and each small 9-box square contains all of the numbers from one to nine. DIFFICULTY THIS WEEK: * * * Moderate ** Challenging *** HOO BOY 2012 King Features Synd., Inc. Lovely 3 Bed/2 1/2/Bath home in beautiful Wynola Estates. All level, beautifully landscaped 2.7 acres. Offered at $375,000 Panoramic View Home on 8.41 acres, 2 garages, 2,756 sq.rc. 6 bdrm/3 bath, remodeled. REDUCED TO $499,000 This Cuyamaca Lake view custom home in on 4+ acres 3 br, 2be, 3 car garage, guest suite, 1330 sf bonus room and many Mountain Home with views to the ocean! I Great family home with privacy and easy III access. ' III $375,000 Ill 3 Bdrm/2 Bath on 1.36 acres in lovely Pine III Hills. Detached office/ar studio. Garage, Ill Handicapped Accessible. 4 Redwood Decks. Ill Great Locale, ample well on property, 2 well buildings and a 700 square foot cabin. $697,000 Business sol separately Julian Estates - 3 bedroom, den, 2 bath, 2 car garage, 2200 sq. ft., 4.42 acre. Wood Interior, Lodge Feeling. i $359,000 896 sq. ft. Upgraded 2br/lba cabin with 2 fireplaces and2 covered patios. 37 Acres. Year-Round Creek $499,900 4 4.32 acres on Eagle Peak Rd. Septic, Well, Electric, Panoramic Views $175K %/2.5 acres - Harrison Park, well, electric. $99,900 %/.49 acres - Harrison Park Lot - ready to go! - $30,000 3/5 acres Harrison Park with well & electric. $109K %/8 acres - Pine Hills -Perc test, Septic Layout & Surveyed. Panoramic views Electric Nearby REDUCED TO $160K and 6.32 acres - Pine Hills - Incredible view lot. CornpleLed Perc Test, Survey and Septic Layout. REDUCED to $175K ~ Both lots at a discounted rate of $320K When Auguste Rodin exhibited his first important bronze sculptures in 1878 it was so realistic that it's said that some people thought he had sacrificed a live model inside the cast. ACROSS 1 5 Life story, for short 8 Snake's tooth 12 Grand tale 13 Conclusion 14 Operatic rendition 15 Painter Chagall 16 Being phil- anthropic 18 Dull indifference 20 Soda-shop treat 21 Dire prophecy 23 Two fives 24 Try 28 Antelope's playmate 31 Meadow 32 Weary 34 Firmament 35 Departed 37 Check beneficiary 39 Dandy 41 Garbage barge 42 Anchored 45 It gets the lead out 49 Ingratiated 51 Staff member? 52 Use a teaspoon 53 Eggs i 00'00range byaantha .I --I1" 00eave00 BI00T T U It was English philosopher Francis Bacon who made the following sage observation: "The root of all superstition is that men observe when a thing hits, but not when it misses." I'm sure you've seen photos of those picturesque covered bridges. It seems that they would have provided a welcome haven for people driving buggies caught out in the rain. You may be surprised to learn, though, that the bridges weren't designed with a roof for the comfort of travelers. Being made of wood in an era before protective sealants, the bridges themselves needed to be protected from the elements. King Crossword ---- i 1 2 3 Forum garb ______ 12 15 18 22 I 41 5O i i__ __ a 10 11 I 29 30 34 46 47 48 24 25 26 31 35 39 42 43 49 52 55 54 Two-way 55 14-Across, e.g. 56 Apiece 57 Partner in wartime 7 Probability Down, 8 Was supplement obsequious 30 Dell bread 9 Sahara-like 33 Entrance quality 36 Matador 10 1492 ship 38 African 11 "Eleni" nation DOWN author 40 Carrot 1 Office Nicholas companion? part-timer 17 See 29- 42 Disarray 2 Colorful fish ' Down 43 Aware of 3 Child without 19 Capricorn 44 Let fall a Y chrom- 22 Early periods 46 "Heart and some 24 Right angle --" 4 Give consent 25 Born 47 List-ending 5 2007 film 26 Jonquil's abbr. featuring cousin 48 Depend (on) Seinfeld's 27 Fragrant 50 First lady voice wood 6 Hostel 29 With 17- 2012 King Features Synd., Inc. Most frogs lay their eggs in the water; that way, when the tadpoles hatch they are already in their element. The red-eyed tree frog, however, protects its eggs from aquatic predators by attaching its eggs to the underside of leaves that hang out over a body of water. Once the eggs hatch, the tadpoles fall into the water. The next time you travel to the United Kingdom, if you visit the university towns of Cambridge or Oxford, you should keep off the grass. Professors are the only ones allowed to walk on most of the green swards in those towns. In ancient Rome, it was widely believed that holding in gas could cause a person to catch a disease or become poisoned. This was such a concern to public health that Emperor Claudius went so far as to pass a law making it legal to fart at banquets. Have you ever known someone who keeps making the same error over and over again despite being corrected? The next time you run into this person, you'll know what to call him or her: a mumpsimus. Thought for Today: "1 have no special talents. I am only passionately curious." -- Albert Einstein 2012 King Features Syndicate, Inc, If people only knew how hard/work to gain my mastery, it wouldn't seem so Wonderful at all. -- Michelangelo Weekly SUDOKU Answer 6 L L S 8 t g 9 t' g L 9 I. 6 8 S 9 5 8 6 g L L 1 6 Z L. t, 8 S g 9 g L 9 S L 8 t 6 9 tt S g 6 9 L L fi 9 6 8 L g t L L  tt 9   L 6 8 L 8 l L 6 9 fi  i Pok4mon l. Charizard 2. Mewtwo 3. Blastoise 4. Lugia 5. Dragonite 6. Mew 7. Rayquaza 8. Zapdos 9. Tyranitar 10. Zekrom Source: IGN -- King Crossword -- Answers Solution time: 21 mins. A7 7 7vn 310 El 3S III 339 AS 1=1:33 ll_00 VO DN I V I H ON V 3 70S h I IS 3 aN3 I _11 N =137 El V37 O ON3 III N HV N I d :1 I 901 2012 King Features Syndicate, Inc.