State Treasurer Bill Lockyer this morning criticized Gov. Arnold Schwarzenegger as disengaged in the budget process, saying the "governor would rather have press conferences than do the tough, nitty-gritty negotiations."
In a meeting with The Bee Capitol Bureau, Lockyer, a Democrat, contrasted Schwarzenegger's leadership with that of former Gov. Pete Wilson.
"When I was doing it with Pete Wilson, he would have us in his office 10-12 hours a day, every day, or almost every day," said Lockyer, who tangled with Wilson as state Senate leader in the mid-1990s.
"The governor just has to be engaged in the process," said Lockyer, before adding that Schwarzenegger "can't do it casually."
The state budget is nearly one month late as California faces a $15.2 billion deficit. There have been no votes on a spending plan in either house of the Legislature.
Lockyer, who negotiates the state's bonds with Wall Street, said he was tired of seeing the state balance the budget through borrowing.
"There's a structural deficit in California that has to be addressed and this governor's done nothing to do that," said Lockyer, who called the governor's lottery proposal "the current iteration of a borrowing scheme."
As for his own political future - he is one on the long list of potential Democratic candidates for governor in 2010 - Lockyer, a former Senate president pro tem and state attorney general, demurred.
Noting that he is the only would-be candidate sitting on a hefty campaign account (roughly $10 million), Lockyer said, "I'm watching."
If he had to decided today, he'd run for reelection. "Turns out being treasurer is a lot of fun," he said.
He did make one thing clear: If Democratic Sen. Dianne Feinstein were to enter the race, he believes the race would be over.
"She beats everybody," Lockyer said.
Some other highlights:
• As far as the state's cash flow crunch, Lockyer gave no specifics, saying that the state could borrow funds (through what's known as a "revenue anticipation warrant") should the budget standoff drag on through August, though passing a budget would allow California to float "substantially cheaper" loans, called "revenue anticipation notes."
• Lockyer said the state's "messy summers" negotiating a chronically late budget have a negative impact on California's credit rating from Wall Street.
It is "part of the optics around the budget process that annoy them," Lockyer said.
• On the fall ballot, he said he is opposed to Proposition 8, the gay marriage measure.
While he is "in favor of the concept" of Proposition 11, the redistricting initiative, he did not take a stand on the measure.
• Lockyer is pushing for his own $2 billion bond measure to "green" state buildings. The measure, SB 1670 by Sen. Christine Kehoe, is in the Assembly Appropriations Committee.
Lockyer said he wasn't sure if he would push to place the bond on the 2008 ballot or simply settle for a future ballot.
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