{"id":17013,"date":"2012-09-21T09:21:26","date_gmt":"2012-09-21T14:21:26","guid":{"rendered":"http:\/\/quotulatiousness.ca\/blog\/?p=17013"},"modified":"2012-09-21T09:21:26","modified_gmt":"2012-09-21T14:21:26","slug":"californias-wall-of-debt-actually-a-very-high-cliff-of-debt","status":"publish","type":"post","link":"https:\/\/quotulatiousness.ca\/blog\/2012\/09\/21\/californias-wall-of-debt-actually-a-very-high-cliff-of-debt\/","title":{"rendered":"California&#8217;s &#8220;wall of debt&#8221; actually a very high cliff of debt"},"content":{"rendered":"<p><a href=\"https:\/\/www.nytimes.com\/2012\/09\/21\/us\/california-debt-higher-than-earlier-estimates.html?_r=1\" target=\"_blank\">Mary Williams Walsh<\/a> on the so-much-worse than estimated debt of California:<\/p>\n<blockquote><p>Gov. Jerry Brown of California announced when he came into office last year that he had found an alarming $28 billion \u201cwall of debt\u201d looming over the state, which had to be dismantled. <\/p>\n<p>Since then, he has slowed the issuance of municipal bonds, called for spending cuts and tried to persuade the state\u2019s famously antitax voters to approve a tax increase this fall.<\/p>\n<p>On Thursday, an independent group of fiscal experts said Mr. Brown\u2019s efforts were all well and good, but in fact, the \u201cwall of debt\u201d was several times as big as the governor thought. <\/p>\n<p>[. . .]<\/p>\n<p>The task force estimated that the burden of debt totaled at least $167 billion and as much as $335 billion. Its members warned that the off-the-books debts tended to grow over time, so that even if Mr. Brown should succeed in pushing through his tax increase, gaining an additional $50 billion over the next seven years, the wall of debt would still be there, casting its shadow over the state. <\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Mary Williams Walsh on the so-much-worse than estimated debt of California: Gov. Jerry Brown of California announced when he came into office last year that he had found an alarming $28 billion \u201cwall of debt\u201d looming over the state, which had to be dismantled. Since then, he has slowed the issuance of municipal bonds, called [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[25,84,13],"tags":[35,71,118],"class_list":["post-17013","post","type-post","status-publish","format-standard","hentry","category-economics","category-government","category-usa","tag-california","tag-debt","tag-taxes"],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p2hpV6-4qp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/17013","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/comments?post=17013"}],"version-history":[{"count":1,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/17013\/revisions"}],"predecessor-version":[{"id":17014,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/posts\/17013\/revisions\/17014"}],"wp:attachment":[{"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/media?parent=17013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/categories?post=17013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/quotulatiousness.ca\/blog\/wp-json\/wp\/v2\/tags?post=17013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}