Another bond issue!! People who know me are aware that I oppose almost every bond issue that the State proposes. Why? Because the State of California is already $443 Billion in debt, including unfunded pension liabilities, of which $126 Billion is represented by previously issued bonds on which the State is paying interest and principal. Enough debt! It is becoming unsustainable. As more and more of the State Budget goes to paying principal and interest on outstanding bonds, it reduces the amount available for necessary State services.
So, why in the world would I, in 2016, support a bond issue? Here is why.
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