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Unsure about bonds? In general, it’s best to vote them all down – Daily News


California state spending has reached over $297 billion this year, double the amount spent just 11 years ago, indicating a spending addiction. The Legislative Analyst’s Office reports that California spends $8 billion annually servicing its bond debt, with each dollar costing $1.50 in repayment over a 20-year term. November’s ballot will include measures for $10 billion in bonds for public schools and community college construction, parks, water, and environmental projects. Proposition 5 would lower the vote threshold for local housing bonds, leading to more borrowing. Critics argue that many bond projects are unnecessary or driven by special interests and result in little benefit to taxpayers. They believe that providing easy money through bonds prevents public agencies from making necessary reforms and choices to improve efficiency. California’s budget already includes excessive spending on climate programs, making the need for a climate bond questionable. By voting against state and local bonds, taxpayers can send a message to lawmakers to address the issue of unnecessary spending and prioritize responsible fiscal management. Voters can help break California’s spending addiction by being informed and voting no on bond measures that do not serve the best interests of taxpayers.

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