Skip to content
CapRadio

CapRadio

signal status listen live donate
listen live donate signal status
listen live donate signal status
  • News
    • beats
    • State Government
    • Environment
    • Health Care
    • Business
    • Arts and Lifestyle
    • Food and Sustainability
    • PolitiFact California
    • California Dream
    • Videos
    • Photos
  • Music
    • genres
    • Classical
    • Jazz
    • Roots
    • Eclectic
    • Videos
    • Daily Playlist
  • Programs + Podcasts
    • news
    • Morning Edition
    • All Things Considered
    • Marketplace
    • Insight
    • The View From Here
    • music
    • Acid Jazz
    • At the Opera
    • Classical Music
    • Connections
    • Excellence in Jazz
    • Hey, Listen!
    • Insight Music
    • K-ZAP on CapRadio
    • Mick Martin's Blues Party
    • Programs A-Z
    • Podcast Directory
  • Schedules
    • News
    • Music
    • ClassicalStream
    • JazzStream
    • Weekly Schedule
    • Daily Playlist
  • Community
    • Events Calendar
    • CapRadio Garden
    • CapRadio Reads
    • CapRadio Travels
    • Ticket Giveaways
  • Support
    • Evergreen Gift
    • One-Time Gift
    • Corporate Support / Underwriting
    • Vehicle Donation
    • Stock Gift
    • Legacy Gift
    • Endowment Gift
    • Volunteering
    • Benefits
    • Member FAQ
    • e‑Newsletter
    • Drawing Winners
    • Thank You Gifts
  • About Us
  • Contact Us
  • Close Menu
 We Get Support From:
Become a Supporter 
 We Get Support From:
Become a Supporter 
  • State Government
  •  

LAO: California Is $340 Billion In Debt

  •  Ben Adler 
Wednesday, May 7, 2014 | Sacramento, CA
Listen
/
Update RequiredTo play audio, update browser or Flash plugin.
Andrew Nixon / Capital Public Radio

Calif. Gov. Jerry Brown holds up a chart of the state's long-term debts as he presents his budget proposal in January 2014.

Andrew Nixon / Capital Public Radio

No matter how you look at it, paying off California’s $340 billion of debt wouldn’t be easy. You’d have to spend the state’s entire general fund budget for three and a half years. Or you’d need 75 years of the current projected state budget surplus. Or, you’d have to charge every Californian $8,500.

“It can sound like a very wonky accounting sort of thing,” says Ryan Miller of the non-partisan Legislative Analyst’s Office, with the understatement of the week. His report says Governor Jerry Brown and state lawmakers should quit procrastinating now that the economy has improved – and start paying that money back.

“These liabilities have a real effect on the amount of funds that are available for other programs in the budget, like Medi-Cal and like other health and human services programs. So it’s in the state’s interest to begin paying these down in a cost-effective manner,” Miller says - starting with the California State Teachers Retirement System, which could cost an extra $5 billion a year.


Follow us for more stories like this

CapRadio provides a trusted source of news because of you.  As a nonprofit organization, donations from people like you sustain the journalism that allows us to discover stories that are important to our audience. If you believe in what we do and support our mission, please donate today.

Donate Today  

    Related Stories

  • Teachers and School Districts Agree More Pension Funding Needed

    Wednesday, February 19, 2014
    The California State Teachers' Retirement System says it faces at least $71 billion in unfunded pension obligations.

 budgetcabudget2014california budgetunfunded liabilitiesCALSTRScapitol

Ben Adler

Director of Programming and Audience Development

Director of Programming and Audience Development Ben Adler first became a public radio listener in the car on his way to preschool — though not necessarily by choice.  Read Full Bio 

Coronavirus Newsletter

Get answers to your questions, the latest updates and easy access to the resources you need, delivered to your inbox.

 

Want to know what to expect? Here's a recent newsletter.

Thanks for subscribing!

We'll send you weekly emails so you can stay informed about the coronavirus in California.

Browse all newsletters

More State Government Stories

Rich Pedroncelli/AP

Watch: California Health Officials Update On COVID-19 For Jan 12

January 12, 2021

AP Photo/Rich Pedroncelli, Pool

How California’s Budget Depends On Staggering Wealth Gap

January 13, 2021

Rich Pedroncelli / AP Photo

California’s Capitol On Guard: Law Enforcement Prepares For ‘Armed Protest’ In Sacramento

January 17, 2021

Most Viewed

California Coronavirus Updates: Extra Vaccine Doses Not Coming To California As Promised By Trump Administration

California Throws Open COVID Vaccines To Anyone 65 And Older

When Can I Get A COVID-19 Vaccine? How Will I Find Out? Answers To Your California Vaccine Questions.

No, Efforts To Recall California Gov. Newsom Are Not ‘A Coup’

California Lawmakers Threatened By Anti-Vaccine Activists During Public Hearing

We Get Support From:
Become a Supporter

Most Viewed

California Coronavirus Updates: Extra Vaccine Doses Not Coming To California As Promised By Trump Administration

California Throws Open COVID Vaccines To Anyone 65 And Older

When Can I Get A COVID-19 Vaccine? How Will I Find Out? Answers To Your California Vaccine Questions.

No, Efforts To Recall California Gov. Newsom Are Not ‘A Coup’

California Lawmakers Threatened By Anti-Vaccine Activists During Public Hearing

Back to Top

  • CapRadio

    7055 Folsom Boulevard
    Sacramento, CA 95826-2625

    • (916) 278-8900
    • Toll-free (877) 480-5900
    • Email Us
    • Submit a News Tip
  • Contact Us

  • About Us

    • Contact Us / Feedback
    • Coverage
    • Directions
    • Jobs & Internships
    • Mission / Vision / Core Values
    • Press
    • Staff Directory
    • Board of Directors
  • Listening Options

    • Mobile App
    • On Air Schedules
    • Smart Speakers
    • Playlist
    • Podcasts
    • RSS
  • Connect With Us

    •  Facebook
    •  Twitter
    •  Instagram
    •  YouTube
  • Donate

  • Listen

  • Newsletters

CapRadio stations are licensed to California State University, Sacramento. © 2021, Capital Public Radio. All Rights Reserved. Privacy Policy | Website Feedback FCC Public Files: KXJZ KKTO KUOP KQNC KXPR KXSR KXJS. For assistance accessing our public files, please call 916-278-8900 or email us.