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To: SmithL

In the next budget, the state will spend $6.6 billion on debt repayment.


I do not expect California to spend $6.6 billion on bonds that come due in the next budget cycle.

California will simply issue new bonds to payoff the existing bonds that are coming due.


7 posted on 03/06/2011 6:14:56 PM PST by Presbyterian Reporter
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To: Presbyterian Reporter
California will simply issue new bonds to payoff the existing bonds that are coming due.

Cockroaches are slippery

I officially modify my modest proposal in post #14 to read, :

"If there is any deficit spending whatsoever, including rollovers of existing debt they must refund all of their salary at the end of each year, plus interest."

After all, it IS "public service," right?

15 posted on 03/06/2011 6:40:33 PM PST by Publius6961 (There has Never been a "Tax On The Rich" that has not reached the middle class)
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