Support the Vets:
Proposition 12: Cal-Vet Loan Program – YES
The Cal-Vet loan program provides low-interest home and farm loans to veterans. Cal-Vet gets the money it lends from the sale of bonds. When the veterans pay off their loans, they do so at a rate that allows Cal-Vet to pay for the bonds, the interest on the bonds, and all bureaucratic overhead. In this way, the program has been completely self-supporting since 1921 (the year of Warren Harding's inauguration). Clearly the Cal-Vet program is a winner. The only catch is that the State periodically needs voters' permission to sell more bonds to fuel Cal-Vet. Hence Props 76 (June '88), 142 (Nov. '90), 206 (Nov. '96), 32 (Nov. '00), and the current Prop 12. I heartily recommend a vote in favor of 12 to ensure the continuation of this smashing success.
(Excerpt from Pete Rates the Props)
- Wolfeman
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