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California Addiction to Debt Proves Costly

By San Francisco Chronicle, San Francisco Chronicle - March 6, 2011

Schools, taxes, state workers' pensions, prisons - all of these topics get plenty of airtime in Sacramento when our elected leaders are wrestling with the state budget.

But there's one big line item that doesn't get much attention, even though it's eating California alive: the cost of our debt service.

 

In the next budget, the state will spend $6.6 billion on debt repayment. According to Moody's Investors Service, California's debt has tripled over the past decade.

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