Prop. 12 would provide money for an estimated 3,600 more loans. There's roughly $100 million left from a 2000 voter-approved bond issue, but that's expected to go fast as Californians -- particularly guard members -- return from Iraq and Afghanistan.
Cal-Vet bonds have been on the ballot 26 times and never been rejected. The current proposal sailed through the Legislature on unanimous votes. Prop. 12 has no organized opposition. But there's no money behind a "yes" campaign either.
And the legislative sponsor, Senate Veterans Affairs Committee Chairman Mark Wyland (R-Escondido), says he's worried, even though the latest Field Poll shows it comfortably ahead.
"There's been real confusion about this," he says. "People have confused it with money that comes out of the general fund.
"In an era when people are extremely concerned about the money the state has, they see the word 'bond' and think we can't afford it. These bonds have never cost the taxpayers a single dime. I run into people who say 'I'm not voting for any bonds.' But once I explain it, they change their minds."
Another negative, Wyland says, is the unpopular war itself. "People who believe it was a horrible mistake might think, 'The heck with Prop. 12.' "
"But whatever your view, these veterans have given up a lot of opportunities in order to serve their country. They've been on short rations and gone through a lot of sacrifice."
OK, sold.
But the other bond measures would gobble money from the general fund and compete against education, healthcare, public safety. . . .
Projected deficit spending climbs by the day. It soared to $10 billion last week, and by week's end number crunchers were speculating about $25 billion.
Gov. Arnold Schwarzenegger declared a fiscal "state of emergency," announced he'd call a post-election legislative session and warned of steep midyear spending cuts for schools. Maybe even prisoner releases.
"Everyone has to take a haircut here," he said. "Education gets hit. Law enforcement gets hit. Prisons are going to get hit. And also healthcare is going to get hit. It's just the math. It's not me."
But Schwarzenegger is conflicted. He wants to cut with one hand and spend with the other.
The governor couldn't resist endorsing two bond measures: Prop. 1A, a nearly $10-billion down payment on a Los Angeles-San Francisco high-speed rail line, costing the general fund $647 million annually for 30 years; and Prop. 3, a $980-million bond to expand and upgrade children's hospitals, at $64 million per year.
