Those funds may have been obligated for the unending construction of the Train to Nowhere.
It’s called a Shell Game.
“Now you see it, now you never saw it”
That thought crossed my mind, but then I just figured that the politicians would prefer to leave it untouched for 20 years so that future politicians can then pass a law shifting the funds to other public needs like teacher’s unions and their own CalPers retirement fund.
But most likely it’s just that there are too many politicians who have hired even more than too many regulators all being chased by too many special interests to ever come to any worthwhile decision on any topic anywhere.
I was never in favor of the term limit law, and this is the kind of stuff that happens when nobody has to be responsible to the voters. They just sit around spending half their time drafting duplicate gun laws.