California's Wall of Debt - New York News

Point of View

California's Wall of Debt

Kevin Hale, VP/General Manager FOX 11 News Kevin Hale, VP/General Manager FOX 11 News
The California Public Policy Center just released a report indicating the state's total debt could reach a trillion dollars. If that's not a wake-up call for California government, then what is? That could mean every California tax payer, could be on the hook for $25,000.

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The trillion dollar liability comes from state and local debt, and all the borrowing that's taken place from special funds. Additionally the biggest mounting obligation the government faces is the unfunded liabilities for retiree pensions and health care costs.

Add to that, what we have borrowed from the federal government to cover our unemployment benefits and you have a massive problem.

As the California economy begins the road to recovery, state lawmakers should focus on paying off our debt. Instead, Governor Brown wants to borrow billions more for a bullet train project.
In a state where two cities have already declared bankruptcy (Stockton and San Bernardino), accruing more debt seems like the wrong way to go.

A new poll by the Public Policy Institute of California shows an overwhelming majority of Californians would like to see our debt paid down and the uncontrolled spending stop.
Maybe the voters remember the crash of 2008. And maybe our lawmakers need to remember it as well.

Now's the time to listen to our citizens and start paying down our debt and put a stop reckless spending. It's up to California lawmakers to do the right thing.

Thanks for listening.

What do you think? We want to hear from you on this P.O.V. segment. Share your thoughts in the comments section below or email me directly at POV@fox11.com.

Kevin Hale,
Vice President and General Manager
KTTV-TV, FOX 11 News

The views expressed are not necessarily those of the station or its employees.

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