Is the California economy really ready for more bond debt?

[Mike Madrid]

It seems to me that the state is facing a massive structural deficit, a slowing economy, a meltdown in the mortgage/real estate industry and oh yeah...were financing a war.

Do we really need to go billions more into debt with bonds - for any purpose?

[mitchsb]

For the most part I agree with you.

The one bond I am tempted to vote for is the high speed rail bond. I really think this state needs to build one. I know it's expensive and we will be paying it off for a long time, but I still think it needs to be done.

As for the other bonds, it's a certain no from me.

BTW, California as a state government does not fund U.S. wars.

[Mike Madrid]

I think I may be guilty of poor word choice. I didnt mean to suggest that the state is financing the war - rather that financing the war at the national level is harming our economy...nationwide, and those affects are felt here in California.

The high speed rail bond is actually the one I would consider also - actually, its why Im wrestling with the debt question in the first place. Id like to see high speed rail. I just cant come to terms with more debt during these financial times.

Moreover, theres still a chance we will see yet another multi-billion dollar bond on the ballot - a water bond (assuming the legislature can get its act together).

I guess we'll just have to wait and see if other Californiains agree with us - truth is I was quite surprised the state passed a record number of bonds last election cycle. I guess were OK with borrowing, borrowing and more borrowing.