CAB Fare

Thursday, December 13, 2012
Article Tools
Print friendly
E-mail story
Tip Us Off
iPod friendly
Share Article

I looked up the League of Women Voters’ SmartVoter guide for measures Q and R Nowhere is the term “capital appreciation bond” (CAB) even mentioned – not in the full text of measure, not in the county counsel’s impartial analysis, nowhere in the sample ballot. How is a voter supposed to make an informed decision? CABs are not even mentioned in Santa Barbara School Districts’ then-Superintendent Ed Sarvis’s presentation. The ballot’s argument in favor (there was no argument against) assures voters, in capital letters, “BY LAW, TAXPAYER SAFEGUARDS ARE IN PLACE.”

Democracy fails if citizens cannot get the information they need. Personally, if the implications of a CAB were ever explained at the time, I doubt these measures would have passed. After all, in 2010 everyone was busy condemning the stupidity of home buyers who signed up for comparable loans. On the other hand, if someone were brave enough to argue against these measures, they would likely have been drowned out by politically-motivated false accusations that they were against schools and kids.


Independent Discussion Guidelines

You just gotta love this comment from Sandra Doria in the original article (CAB) to which there is a link from this letter:

"If you don’t have enough in the bank, and you aren’t going to raise tax rates, then you resort to a CAB,” said Sandra Doria, business manager for the Hope Elementary School District."

It absolutely, completely does not occur to Ms. Doria that another option is to *cut spending* or *improve efficiencies local government and schools by deploying the right incentives*.

If Prop 32 had *not* passed, we would only be at 2007 spending levels. That would be only about a 6% below where we are spending today. There is at least 20% of unnecessary spending within the 225% increase in staffing of non-classroom workers in the SB School District over the past 20 years.

Unbelievable what these people will do and how they think.

willy88 (anonymous profile)
December 13, 2012 at 3:48 p.m. (Suggest removal)

League of Women Voters is primarily a group of retired school teachers or government employees. They have little inclination to inform voters about anything that would work against their own self-interests.

CAB's would not mean anything to them because they are so pro-tax and spend on education they have intellectual blinders on questions like this.

They are merely a group of daughters and granddaughters of union-friendly suffragettes. Well-intended, but increasingly out of touch.

Oblati (anonymous profile)
December 14, 2012 at 12:16 p.m. (Suggest removal)

Ob*la"ti\, n. pl. [LL., fr. L. oblatus. See Oblate.] (R.C.Ch.) (a) Children dedicated in their early years to the monastic state. (b) A class of persons, especially in the Middle Ages, who offered themselves and their property to a monastery.

Ken_Volok (anonymous profile)
December 14, 2012 at 12:20 p.m. (Suggest removal)

Remember folks: If you bring up any issues that fly in the face of "helping our children" you are portrayed as anti education. Of course these bonds are ludicrous and of course there is a self interested lobby that wants to perpetuate unlimited spending(even if the funds only go to unsustainable pensions). Two days after prop 30 passed I got a memo from the UC Office of the President that the tuition increases would now take effect as planned even though we were told that prop 30 would take care of all of our money woes and "help the children".

italiansurg (anonymous profile)
December 15, 2012 at 5:52 a.m. (Suggest removal)

Of course CAB's weren't explained. The county counsel's analysis was not impartial. It was a sales pitch.

Botany (anonymous profile)
December 15, 2012 at 6:36 a.m. (Suggest removal)

event calendar sponsored by: