California Bond Propositions

I noticed something about most of the 2008 California Bond Propositions.

Prop 1A: "Provides for a bond issue of $9.95 billion..."

Prop 3: "Authorizes $980,000,000 in bonds..."

Prop 6: "Requires minimum of $965,000,000 each year to be allocated..."

Prop 12: "This act provides for a bond issue of nine hundred million dollars ($900,000,000)..."


Notice anything? Like they try to deceive you about the cost? Just like that nice house on the corner listed for $999,000. Geez, I'm sure glad it's not a million, that would be out of our price range! Of course, just like a mortgage, the true cost of the bonds is roughly double the up-front cost.

For the record, Props 5 and 10 did not try this shenanigans.