Proposition 12

November 1, 2008 by dave

From the Voter's Guide:
Veteran's Bond Act of 2008

• This act provides for a bond issue of nine hundred million dollars ($900,000,000) to provide loans to California veterans to purchase farms and homes.
• Appropriates money from the state General Fund to pay off the bonds, if loan payments from participating veterans are insufficient for that purpose.

Dave's Thinking:
At last a bond issue I can agree with. What makes Proposition 12 palatable is in the voter's guide analysis:

Throughout its history, the Cal-Vet program has been totally supported by the participating veterans, at no direct cost to the taxpayer. However, because general obligation bonds are backed by the state, if the payments made by those veterans participating in the program do not fully cover the amount owed on the bonds, the state’s taxpayers would pay the difference.

The Cal-Vet program, which benefits our veterans, is completely self-supporting. What a great opportunity to help these courageous men and women without costing the state a dime.

Dave's Recommendation:
Vote YES on Proposition 12.

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