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How big is the State debt? Not the deficit, the debt?
"We've grown numb to annual budget meltdowns - shortfalls of $20 billion have become the norm. But what is our state's total debt? Would you believe at least $265 billion?"
In reality, it could be more, "So how much is the Golden State in the red? At least $265 billion, and perhaps $737 billion, both greater than official state reports suggest."
According to former Assemblyman Joe Nation, this is because of:
Budget deferrals
General Obligation borrowing
Pensions and retiree health promises for state workers
California government has compromised the future of 38 million people. it is time for the voters to take back control from Sacramento, special interests and the unions.
More...
"We've grown numb to annual budget meltdowns - shortfalls of $20 billion have become the norm. But what is our state's total debt? Would you believe at least $265 billion?"
In reality, it could be more, "So how much is the Golden State in the red? At least $265 billion, and perhaps $737 billion, both greater than official state reports suggest."
According to former Assemblyman Joe Nation, this is because of:
Budget deferrals
General Obligation borrowing
Pensions and retiree health promises for state workers
California government has compromised the future of 38 million people. it is time for the voters to take back control from Sacramento, special interests and the unions.
More...