(I’m really excited about this idea. Crossposted to dKos. – promoted by SFBrianCL)

Phil Angelides has come up with an interesting idea for developing our infrasturucture:

State Treasurer Phil Angelides, a candidate in the Democratic gubernatorial primary, weighed in on the ongoing political debate over infrastructure Monday by urging California’s public-employee pension plans to invest some of their multibillion-dollar portfolios in public construction projects.

Angelides said the Public Employees Retirement System and the State Teachers Retirement System should put about $15 billion into toll roads, energy-conservation efforts and other projects “where there is an income stream, and we should get it, not private companies.”(Sac Bee 4/3/06)

I really, really like this idea.  How can the pension funds do more for the state of California than actually investing in our infrastructure?  These are reasonable rates of return for the funds as well.  At any rate it’s $15 Billion less that we have to borrow from private and foreign investors.

Also, Dan Weintraub predicts that we might see a bond deal soon:

Separately, legislative leaders have been meeting to try to reach agreement on a public works bond package, and at least some aides believe that agreement could come as soon as this week.(Weintraub’s California Insider 4/3/06)

I’ll believe it when I see it, but I would sure love this to happen already.  The constant bond watch is getting a tad bit tedious and is taking away attention from other issues. (Well, I must admit that I kind of like all the bond discussions.  But, I know I’m strange in my passion for this stuff.)