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California Proposition 57 (2004)
Proposition 57 (officially, the Economic Recovery Bond Act) was a California ballot proposition on the March 2, 2004 primary election ballot. It was passed with 4,056,313 (63.4%) votes in favor and 2,348,910 (36.6%) against. The proposition authorized the state to sell $15 billion in long-term bonds to pay off accumulated deficits. Proposition 57 went into effect only because Proposition 58 (the California Balanced Budget Act) also passed. Propositions 57 and 58 were the centerpiece of Governor Arnold Schwarzenegger's plan to resolve California's budget problems. Schwarzenegger campaigned heavily for the passage of Propositions 57 and 58. California State Senator Tom McClintock, Schwarzenegger's fellow Republican Republican can refer to: Political ideology * An advocate of a republic, a type of government that is not a monarchy or dictatorship, and is usually associated with the rule of law. ** Republicanism, the ideology in support of republics or agains ... and rival in th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
California Ballot Proposition
In California, a ballot proposition is a referendum or an initiative measure that is submitted to the electorate for a direct decision or direct vote (or plebiscite). If passed, it can alter one or more of the articles of the Constitution of California, one or more of the 29 California Codes, or another law in the California Statutes by clarifying current or adding statute(s) or removing current statute(s). Measures can be placed on the ballot either by the California State Legislature or via a petition signed by registered voters. The state legislature can place a state constitutional amendment or a proposed law change on the ballot as a referendum to be approved by voters. Under the state constitution, certain proposed changes to state laws may require mandatory referendums, and must be approved by voters before they can take effect. A measure placed on the ballot via petition can either be a vote to veto a law that has been adopted by the legislature (an optional referendum or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bond (finance)
In finance, a bond is a type of security under which the issuer ( debtor) owes the holder ( creditor) a debt, and is obliged – depending on the terms – to repay the principal (i.e. amount borrowed) of the bond at the maturity date as well as interest (called the coupon) over a specified amount of time. The interest is usually payable at fixed intervals: semiannual, annual, and less often at other periods. Thus, a bond is a form of loan or IOU. Bonds provide the borrower with external funds to finance long-term investments or, in the case of government bonds, to finance current expenditure. Bonds and stocks are both securities, but the major difference between the two is that (capital) stockholders have an equity stake in a company (i.e. they are owners), whereas bondholders have a creditor stake in a company (i.e. they are lenders). As creditors, bondholders have priority over stockholders. This means they will be repaid in advance of stockholders, but will rank behind s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
California Proposition 58 (2004)
Proposition 58 was a California ballot proposition on the March 2, 2004 ballot. It passed with 4,535,084 (71.2%) votes in favor and 1,841,138 (28.8%) against. It was officially called the California Balanced Budget Act. It requires the state legislature to pass a balanced budget every year, which means that budgeted recurrent expenditure, including repayment of past debt, does not exceed estimated revenue. The act does not require that capital works programs be funded out of current revenues. The California Constitution has always allowed bond issues (state debt) for specified capital works, above a certain value. Bond measures must be approved by a statewide ballot. The Act created a reserve fund called the Budget Stabilization Account in case of future financial trouble. It also prevented the creation of any future bonds to pay off deficits like that in Proposition 57 (the California Economic Recovery Bond Act). Proposition 58 took effect only because Proposition 57 also passe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Governor Of California
The governor of California is the head of government of the U.S. state of California. The governor is the commander-in-chief of the California National Guard and the California State Guard. Established in the Constitution of California, the governor's responsibilities also include making the annual State of the State address to the California State Legislature, submitting the budget, and ensuring that state laws are enforced. The position was created in 1849, the year before California became a state. The current governor of California is Democrat Gavin Newsom, who was inaugurated on January 7, 2019. Gubernatorial elections, oath, and term of office Qualifications A candidate for governor must be a U.S. citizen and a registered voter within the state, must not have been convicted of a felony involving bribery, embezzlement, or extortion, and must not have served two terms since November 6, 1990. Election and oath of Governor Governors are elected by popular ballot and se ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Arnold Schwarzenegger
Arnold Alois Schwarzenegger (born July 30, 1947) is an Austrian and American actor, film producer, businessman, retired professional bodybuilder and politician who served as the 38th governor of California between 2003 and 2011. ''Time'' magazine named Schwarzenegger one of the 100 most influential people in the world in 2004 and 2007. Schwarzenegger began lifting weights at the age of 15 and went on to win the Mr. Universe title at age 20 and subsequently won the Mr. Olympia title seven times. He is widely regarded as one of the greatest bodybuilders of all time, and has written many books and articles about bodybuilding. The Arnold Sports Festival, considered the second-most important bodybuilding event after Mr. Olympia, is named after him. He appeared in the bodybuilding documentary ''Pumping Iron'' (1977). Schwarzenegger retired from bodybuilding and gained worldwide fame as a Hollywood action star, with his breakthrough in the sword and sorcery epic ''Conan the B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
California State Senate
The California State Senate is the upper house of the California State Legislature, the lower house being the California State Assembly. The State Senate convenes, along with the State Assembly, at the California State Capitol in Sacramento, California, Sacramento. Due to a combination of the state's large population and a legislature that has not been expanded since the ratification of the California Constitution, 1879 Constitution, the State Senate has the largest population per state senator ratio of any state legislative house. In the United States House of Representatives, California is apportioned 53 U.S. representatives, each representing approximately 704,566 people, while in the California State Senate, each of the 40 state senators represents approximately 931,349 people. This means that California state senators each represent more people than California's members of the List of United States representatives from California, House of Representatives. In the current le ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tom McClintock
Thomas Miller McClintock II (; born July 10, 1956) is an American politician serving as the U.S. representative for since 2009. His district stretches from the Sacramento suburbs to the outer suburbs of Fresno; it includes Yosemite National Park. A member of the Republican Party, McClintock served as a California state assemblyman from 1982 to 1992 and from 1996 to 2000, when he became a California state senator, a position he held until 2008. He unsuccessfully ran for governor of California in the 2003 recall election and for lieutenant governor of California in the 2006 election. Early life, education and early political career McClintock was born in White Plains, New York, and graduated in 1978 from the University of California, Los Angeles (UCLA). At 23, he was elected chair of the Ventura County Republican Party, and served until 1981. He was chief of staff to State Senator Ed Davis from 1980 to 1982. From 1992 to 1994, he served as director of the Center for the C ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Republican Party (United States)
The Republican Party, also referred to as the GOP ("Grand Old Party"), is one of the two major contemporary political parties in the United States. The GOP was founded in 1854 by anti-slavery activists who opposed the Kansas–Nebraska Act, which allowed for the potential expansion of chattel slavery into the western territories. Since Ronald Reagan's presidency in the 1980s, conservatism has been the dominant ideology of the GOP. It has been the main political rival of the Democratic Party since the mid-1850s. The Republican Party's intellectual predecessor is considered to be Northern members of the Whig Party, with Republican presidents Abraham Lincoln, Rutherford B. Hayes, Chester A. Arthur, and Benjamin Harrison all being Whigs before switching to the party, from which they were elected. The collapse of the Whigs, which had previously been one of the two major parties in the country, strengthened the party's electoral success. Upon its founding, it supported c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
California Gubernatorial Recall Election, 2003
California is a state in the Western United States, located along the Pacific Coast. With nearly 39.2million residents across a total area of approximately , it is the most populous U.S. state and the 3rd largest by area. It is also the most populated subnational entity in North America and the 34th most populous in the world. The Greater Los Angeles area and the San Francisco Bay Area are the nation's second and fifth most populous urban regions respectively, with the former having more than 18.7million residents and the latter having over 9.6million. Sacramento is the state's capital, while Los Angeles is the most populous city in the state and the second most populous city in the country. San Francisco is the second most densely populated major city in the country. Los Angeles County is the country's most populous, while San Bernardino County is the largest county by area in the country. California borders Oregon to the north, Nevada and Arizona to the east, the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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