Feinstein endorses ballot budget measures

California Democratic Senator Diane Feinstein endorsed Friday Propositions 57 and 58 designed to aid the state's recovery from its financial mess. Flanked by the Pro-57/58 campaign's leaders, Republican Gov. Arnold Schwarzenegger and Democrat State Comptr

Published: Feb. 19, 2004 at 9:58 PM

WASHINGTON, Feb. 19 (UPI) -- California Democratic Senator Diane Feinstein endorsed Thursday Propositions 57 and 58 designed to aid the state's recovery from its financial mess.

Flanked by the Pro-57/58 campaign's leaders, Republican Gov. Arnold Schwarzenegger and Democrat State Comptroller Steve Westly, Feinstein voiced her approval for the measures at an event in Santa Monica.

"By the end of June, California will be facing a major cash liquidity crisis that could cause substantial damage," Feinstein said. "It's time for Democrats and Republicans alike to put aside partisan politics and do what's good for our state."

Proposition 57 provides for a one-time $15 billion economic recovery bond issue to refinance past budget deficits.

Proposition 58 requires the state to have a balanced budget and prohibits bond financing of any future deficits. It also creates a "rainy day savings account" that would be used to pay off existing bond obligations early and help the state through any future financial crises.

Topics: Arnold Schwarzenegger, Diane Feinstein, Steve Westly

© 2004 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.

Order reprints

Most Popular Collections

'Star Trek Into Darkness' screening	NBC upfronts	Met Ball 2013
'Great Gatsby' premieres in New York	Spire raised on top of One WTC	2013: Celebrity break ups and divorces

Additional Top News Stories
Top News Debris removal becomes priority in Moore, Okla. MOORE, Okla., May 22 (UPI) -- Cleanup crews fanned out Wednesday across Moore, Okla., devastated by a massive tornado that killed at least 24 people two days earlier. New clues found in search for abducted Iowa teen Woman stages mock suicide at Notre Dame Judge tells jury to keep deliberating in Jodi Arias punishment phase Women held prisoner in Cleveland thank donors for support	Entertainment News Ex says O.J. Simpson was obsessed with former spouse Nicole NEW YORK, May 22 (UPI) -- Christie Prody, O.J. Simpson's ex-girlfriend, says the jailed former football star was obsessed with his late ex-wife, Nicole Brown. Actress Eva Longoria earns master's degree at 38 'Monsters University' CD features Swedish House Mafia singers Ari Graynor to star in TV comedy 'Bad Teacher' Coppola to make film about Italian-American family
Business News Existing U.S. home sales rose in April WASHINGTON, May 22 (UPI) -- Sales of existing U.S. homes rose in April and were 9.7 percent higher than in April 2012, a trade group in Washington said Wednesday. Canadian defense shipbuilding at risk of running aground Syria's jihadists have edge, control oil Iraq gets final helicopter delivery Crude oil slips Wednesday	Odd News Missouri clerk sells herself winning Powerball ticket DONIPHAN, Mo., May 22 (UPI) -- A Missouri woman who started her new job as a store clerk last week sold herself a pair of lottery tickets, winning $500 and $1 million. Women booted from mall for profane cancer-bashing hats Brother's house painted pink during honeymoon Brit's arm takes six years to heal, breaks day after final treatment Indianapolis Motor Speedway apologizes for shutting down lemonade

Top News

Feinstein endorses ballot budget measures