We estimate that California’s total state and local government debt as of June 30, 2017 totaled just over $1.5 trillion. That total includes all outstanding bonds, loans, and other long-term liabilities, along with the officially reported unfunded liability for other post-employment benefits (primarily retiree healthcare), as well as unfunded pension liabilities.
“We estimate that California’s total state and local government debt as of June 30, 2017 totaled just over $1.5 trillion. “
The entity known as The State of California has $150 billion in outstanding debt.
The municipal entities and special districts in CA have $1.35 trillion in debt.
Woe unto those bondholders and their insurers. Like the federal debt, it will never be paid.
Whereas the State could pay its entire debt in 10 years without breaking a sweat.