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"* As of Dec. 1, California had $83.5 billion in long-term bond debt. By far the most, $64 billion, was in general obligation bonds, which are financed by all taxpayers from the deficit-ridden general fund. The state also had voter authorization for an additional $47.5 billion in unsold GO bonds.
* Since 1999, annual state debt service has increased 143% while general fund revenue has risen only 22%. Bond repayments this fiscal year are costing $6.1 billion, amounting to 6.9% of the general fund. By 2013, assuming voter approval of the water bond, annual payments are projected to rise to $10 billion, 11% of the general fund."
Note the $83.5 billion is ONLY bonded debt, not all debt--and remember, there is a difference between debt and deficit--the new deficit is in total $36 billion and growing fast with all the lawsuits we have lost.
When the LA Times radical Mr. Skelton thinks we are spending too much money, you know we are in trouble. Guess George had a visit with his grand children and realized his policies have destroyed their future.
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* Since 1999, annual state debt service has increased 143% while general fund revenue has risen only 22%. Bond repayments this fiscal year are costing $6.1 billion, amounting to 6.9% of the general fund. By 2013, assuming voter approval of the water bond, annual payments are projected to rise to $10 billion, 11% of the general fund."
Note the $83.5 billion is ONLY bonded debt, not all debt--and remember, there is a difference between debt and deficit--the new deficit is in total $36 billion and growing fast with all the lawsuits we have lost.
When the LA Times radical Mr. Skelton thinks we are spending too much money, you know we are in trouble. Guess George had a visit with his grand children and realized his policies have destroyed their future.
More...