The Issue: California’s Proposition 12, the Veterans’ Bond Act of 2008, will allow for the sale of $900 Million in bonds to be used to help veterans buy homes or farms.  Should the voters of California support Proposition 12 in election this November?

The Legislative Analyst’s Office is the department of the California Government that provides impartial analysis of proposed legislation.  View the LAO’s report on Prop 12.

Proposition 12 is a no-brainer for the voters.  First of all, it is budget neutral, meaning it has no financial impact on the State of California.  Sure, this proposition authorizes the sale of bonds, but since the veterans supported by the program will be paying the state back for the entire cost of the bond including administration, all the state is really doing is insuring the bond.  This program provides loans to veterans that are backed by the State, meaning the program pays for itself.

The State of California has a long history (since 1921 of funding these loans for veterans and the program hasn’t failed yet.  There is absolutely no reason to vote against this bond. It is a win-win-win for California, Taxpayers and Veterans.

Position: Vote Yes on the Veterans’ Bond Act of 2008.