Everand Logo

Welcome to Everand!

  • Los Angeles Times

    George Skelton: A massive borrowing binge is brewing in Sacramento

    by George Skelton, Los Angeles Times Jul 28, 2023 4 minutes
    Gavin Newsom gives the inaugural address after taking the oath of office at his inauguration ceremony at the Capitol Mall on Friday, Jan. 6, 2023, in Sacramento, California.

    SACRAMENTO, Calif. — Left to their individual desires, California legislators would go on a massive borrowing binge.

    They'd sell bonds to fund ambitious projects such as housing and treating homeless people who are mentally ill, controlling floods and updating classrooms — all worthy projects.

    But should they be paid for with borrowed money that, with interest, roughly doubles the projects' cost? Or should they be financed with cash out of the state banking account, the general fund?

    There are sound arguments for both.

    Bond financing is like taking out a home mortgage. It's the rare homeowner who can pay cash for a house.

    You’re reading a preview, subscribe to read more.

    More from Los Angeles Times

    Los Angeles Times3 min readCrime & Violence
    Carvalho Faults Alleged Actions Of School Safety Worker Who Failed To Stop Fatal Fight
    LOS ANGELES — The Los Angeles school district has removed a campus-safety contractor from Washington Preparatory High School after an adult — who apparently worked for the contractor — refused to intervene before a fight that ended with the death of
    Los Angeles Times8 min read
    Beyond Erewhon: Inside The LA Grocery Store Where All The Cool Vegans Are Flocking
    LOS ANGELES -- On a rainy Saturday afternoon in late March, a block of East Hollywood is unusually quiet but for the corner of Fountain Avenue and North Edgemont Street. There, a line snakes halfway around the perimeter of a little vegan grocery stor
    Los Angeles Times3 min read
    Commentary: USC’s ‘Security Risk’ Rationale To Thwart Peaceful Protest Is Not Justified
    During Vietnam War protests, the Nixon administration called them “outside agitators.” Now my university’s provost prefers “participants — many of whom do not appear to be affiliated with USC.” Beyond Andrew Guzman’s misdemeanor of wordiness, the pla

    Related Books & Audiobooks