Patterico's Pontifications

11/4/2008

Clearing Up Misconceptions on California’s Prop. 12

Filed under: Politics,Public Policy — Justin Levine @ 12:35 pm

[posted by Justin Levine]

I have come across many who say they intend to vote against Prop. 12 in California because they understandably feel that the state can’t afford any more bond debt.

That’s unfortunate. What they don’t seem to understand is that Prop. 12 won’t likely cost state taxpayers anything. Not one cent.

Prop. 12 will sell $900-million in bonds to help fund a program that allows California veterans to take out low-interest home loans. It would likely be able to help out up to 3,600 veterans. However, unlike most bond sales, the taxpayers aren’t responsible for paying back these bonds – the veterans who take out the home loans are.

The only way that this will cost California taxpayers is if the veterans who take out these loans manage to default on their mortgages. All 3,600 veterans would have to default on their loans in order to stick taxpayers with the full costs of Prop. 12 bonds. Even then, the state would be able to recoup much of the costs by selling the properties to someone else.

This program has been around since 1921 and veterans have shown that they have a very low rate of default.

If you haven’t voted yet – Yes on 12.

[I suspect that Patterico will be particularly annoyed with me if I don’t allow comments on this particular thread. So have at it.]

– Justin Levine

Election Anecdotes (with Updates)

Filed under: 2008 Election — DRJ @ 10:14 am

[Guest post by DRJ]

Here are some election anecdotes to start off this Election Day 2008:

Anecdote #1:

Yesterday there was craziness in California when a masked 28-year-old anti-war veteran waving an American flag and a handgun forced a traffic shutdown on HWY 101 in Santa Barbara for over 3 hours, backing traffic up 3 miles. “He gave up after he was allowed to attach a Barack Obama campaign sign and the flag to the overpass railing, said police Sgt. Jim Pfleging.”

Anecdote #2:

Today’s Houston Chronicle recounts an early voting story from October in which a Harris County poll worker refused to let a woman in an Alaska souvenir T-Shirt vote, apparently claiming the voter was electioneering for Palin. The poll worker gave her the option to cover up or change her shirt, options the voter refused because she felt no one would object to a Delaware T-Shirt. The voter initially left without voting but campaign volunteers in the parking lot referred the voter to a polling judge who overruled the poll worker’s decision.

However, the following week, the voter noted there was a sign posted at the polling place that banned clothing that named any of the candidates’ home states: Illinois, Arizona, Delaware or Alaska.

Anecdote #3:

On a lighter note, the same Houston Chronicle article recounts this memorable early voting story:

“During early voting, the clerk’s office got a report of a woman who showed up to a polling place in west Harris County wearing an Obama T-shirt. She was told she could cover the shirt up, turn it inside out, or not wear it. She chose not to wear it, and voted in her bra.

[Harris County Clerk spokesman Hector] De Leon could not say whether the polling places had a “no shirt, no shoes, no service” policy.”

Feel free to add links to more election anecdotes in the comments if you come across them. Meanwhile, if you haven’t already, Go Vote.

UPDATE 1: A compilation of early morning anecdotes from Jim Geraghty.

UPDATE 2 from Jake Tapper at ABC News:

“Among the other voters who have shown up to vote at Shoesmith Elementary School this morning, where Sen. Barack Obama, D-Ill., will vote: Louis Farrakhan and William Ayers.

Seriously.

Welcome to the South Side of Chicago.”

— DRJ

Predictions

Filed under: 2008 Election,General — Patterico @ 12:01 am

Get ’em in now.

UPDATE: Allahpundit’s predictions are here. They’re ugly — and he even admits that the reality will probably be worse.

Vote anyway.

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