California's Senate leader announced on Friday that state Democrats would not support a proposal to limit the percentage of the state's budget devoted to debt payments:
Senate leader Don Perata said Friday that Democrats would not accept a constitutional amendment on borrowing limits, a provision that was a key part of Gov. Arnold Schwarzenegger's $222 billion infrastructure proposal.
The governor said in his State of the State address in January that he wanted no more than 6 percent of the state's general fund revenue to be used to repay debt.
Perata, D-Oakland, said Friday that provision is "unworkable and unnecessary."
After all...it's only money, right?!
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