California’s massive debt should caution against big spending

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California’s state and local debts topped $1.5 trillion as of June 30, 2017, according to a recent analysis by the California Policy Center. Addressing massive obligations should be a top priority moving forward.

The analysis by California Policy Center fellow Edward Ring and Marc Joffe from the Reason Foundation, released last week, includes the state’s large unfunded pension liabilities, as well as outstanding bonds and other long-term obligations.

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