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  Topic: California´s debt still a
heavy cloud over state´s future
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California´s debt still a
heavy cloud over state´s future

Los Angeles Times, by Evan Halper and Chris Megerian

Original Article

Posted By:NorthernDog, 1/13/2013 9:48:27 PM

SACRAMENTO — Gov. Jerry Brown proclaimed last week that California, which now has enough cash to pay its day-to-day bills, can no longer be described by naysayers as a "failed state." But even though it appears to be free of the deficit that dogged the Capitol in recent years, the state is no model of financial health. Sacramento is legally obligated to pay many billions of dollars withheld from schools, local governments and healthcare providers as lawmakers struggled repeatedly to balance the books. It owes Wall Street more per resident than almost every other state.

Comments:
Liabilities to public employees will eventually swamp the state, a la a Pacific tsunami.

      


Post Reply  

Reply 1 - Posted by: Scribelus, 1/13/2013 10:23:04 PM     (No. 9114880)

Debts? Debts? I don´ care about no steenkin´ debts!

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Reply 2 - Posted by: Bobn.T, 1/13/2013 10:50:28 PM     (No. 9114905)

California has no debt and it never rains in California.


Jerry, pass the wine and cheese please.

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Reply 3 - Posted by: oh-heck, 1/13/2013 11:03:35 PM     (No. 9114914)

What, Obama and Brown said tax increases would solve all problems. Please report on how much extra income those taxes are raising Jerry.

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Reply 4 - Posted by: bob913, 1/14/2013 12:05:42 AM     (No. 9114974)

free of the deficit... That is nonsense!
The politicians are cooking the books.

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Reply 5 - Posted by: Trigger2, 1/14/2013 3:36:34 AM     (No. 9115049)

Considering what the unions suck away from taxpayers past & present, CA will never ever be free of debt.

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