February 10th, 2004

YES ON 57 AND 58 CAMPAIGN RELEASES FIRST TELEVISION AD

SACRAMENTO – The “Californians for a Balanced Budget – Yes on 57 and 58” campaign today began airing its first television advertisement as part of a statewide TV buy in support of the two measures. Titled “Duets,” and featuring Yes on 57 and 58 co-chairs Gov. Arnold Schwarzenegger and Controller Steve Westly, the 30-second ad is the first in what will be a series of advertisements promoting 57 and 58.

You may view the ad online by visiting www.yes57and58.org.

Proposition 57 provides for a one-time $15 billion Economic Recovery Bond to refinance past budget deficits while interest rates are low. This allows California to start over with a balanced budget and gets the fiscal mismanagement of the past behind us. Proposition 58 makes sure we never get in a deficit crisis again by requiring California politicians to balance the budget every year in the future and prohibiting bond financing of any future deficits. It also creates a “rainy day savings account” to be used for paying the bonds off early and helping the state through any future economic downturns.

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