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Assembly committee kills bond misuse bill 8

June 20, 2012 By Katy Grimes SACRAMENTO — California’s bond debt is on steroids, but it’s the taxpaying residents who will be responsible for the financial meltdown. California politicians are well known for their budget fund shifts, “borrowing” from agencies and

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Fed Debt Default Imperils CA Budget 5

JULY 14, 2011 By WAYNE LUSVARDI Purgatory is a temporary place of agony, torment and suffering between heaven and hell.  that is apparently where California’s state budget might be headed if the federal government, by failing to raise the federal

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LAO Blows Up Bullet Train 0

MAY 11, 2011 There’s something truly exhausting — no, dispiriting — about reading the latest state Legislative Analysts Office (LAO) report on California’s immense high-speed rail undertaking. Released at noon on May 10, the document runs just 28 pages but

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CA Bond Payments Crowd Other Spending 0

MAY 5, 2011 By WAYNE LUSVARDI A recent Internet headline read: “California bond sold for 9 percent – NOT a Typo!” The inference was that this could be the harbinger of much prophesized skyrocketing bond interest rates and municipal bond

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CA’s Bond Rating Equals F-Minus Grade 5

APRIL 21, 2011 By WAYNE LUSVARDI Why is there such a large discrepancy between California State Treasurer Bill Lockyer’s assurances that the state is not broke and has plenty of money to pay off its bonds and the state’s effective

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Bonds = Delayed Tax Increases 0

John Seiler: For years now — even decades — I’ve called government bonds “delayed tax increases.” That’s because the bonds, eventually, must be paid off with money from the general fund. And if other government spending is to continue —

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California Should Declare Bankruptcy 2

John Seiler: If you’ve been reading CalWatchDog.com, you know I’ve written in favor of the state declaring bankruptcy. As I wrote back in April: There are couple of things to note here. First, for a family of four, $7,220 is

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Nobody Wants Cal Bonds 0

John Seiler: Bonds. California bonds. Nobody wants them. Gov. Arnold Schwarzenegger has extended his seven years of destruction by wiping out the market for bonds, not just for California, but other states and cities. The Wall St. Journal: America’s strapped

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