What an economic moron. It’s an interest-free four or five month loan to the state. Not in the wildest stretch of the imagination could you ever consider more borrowing as a “fix.” The only true fix is to stop out of control government spending, not steal more money from your citizens.
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And all from a state that is stealing taxpayer dollars to fund ILLEGAL aliens to the tune of about TEN BILLION DOLLARS per year. But they have to take about two billion from us, the taxpaying LEGAL CITIZEN WORKERS of California.
This is merely a two or three year band-aid to reach the next level of state bankruptcy. It simply delays the event, and triggers everyone to have additional pain while they wait for the curtain call.
The next trigger? Watch for a significant decline in state-funded construction projects. Watch for the state-run university system to have several big name “executives” told to retire, with no real replacement. Watch for tourist-related taxes to edge up by twenty-five percent.
My twenty-year prediction...the federal government runs the state-government of California. Everyone from the remaining 49 states will be contributing to the requirements of the state.