EDITORIAL: Will California ever pay off its massive debt?
California policymakers have put the state $255 billion in debt, equating to $21,600 for every taxpayer, according to a financial analysis recently released by Truth in Accounting. While staggering, this is actually a conservative estimate and may in fact exceed $100,000. The state’s growing debt has already led to several municipal bankruptcies with additional communities teetering on the brink of insolvency, reports the Orange County Register.
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