Excerpts from State Treasurer Phil Angelides from Saturday's Gubernatorial Debate

TAXES

"I'm going to cut taxes for people making under $100,000. I'm going to close corporate tax loopholes. I'm going to ask multimillionaires -- those of us who have done the best -- to help balance the budget, provide good funding for our schools and help build the future of California."

CALIFORNIA'S ECONOMY

"We haven't made progress. ...Governor Schwarzenegger ...submitted three deficit-spending budgets in a row. ...I believe we can do better. ...Health care costs are up 12 percent a year. The cost of college tuition has skyrocketed. Gas prices are up."

EDUCATION

"I believe we have to make this our No. 1 priority. ...I'm going to set a goal to ...reduce our dropout rate by 25 percent, expand charter schools, (give) more instructional time for the kids who are struggling hardest (and) try to get 40,000 more kids going to college by the end of my governorship."

FLOOD PROTECTION

"Governor, the fact is that you haven't moved as you should have to protect our people in terms of potential flooding. You fired every member of your reclamation board in charge of making sure our levees are secure when they started to oppose development projects that were in the flood way."

HIS BIGGEST MISTAKE

"I regret that I was unsuccessful in stopping the massive borrowing that happened in this state over the last seven years under Governor Davis and under Governor Schwarzenegger."