We the People...

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ON PAGING ASSEMBLYWOMAN WALDRON


California State Assembly Seal
Marie Waldron | District 75
 

Christmas Open House!

When: December 12th 4-6 PM
 
Where: 350 W. 5th Avenue, Suite 110
               Escondido, CA  92025
 
RSVP: by December 8th
             (760) 480-7570
 
 
 
 
DISTRICT OFFICE
350 W. 5th Avenue, Suite #110
Escondido, CA 92025
(760) 480-7570, (760) 480-7516 fax

CAPITOL OFFICE
P.O. Box 942849
Sacramento, CA 94249
(916) 319-2075, (916) 319-2175 fax
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© 2013 California State Assembly | Disclaimer



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California State Assembly Seal
Marie Waldron | District 75
 
Image
 

State Auditor Report Shows California is $127.2 Billion in the Red

The nonpartisan California State Auditor’s office recently released a report detailing California’s “net worth” as a state.
 
As is a common annual practice in the business world, the Auditor totaled up all of the state’s unrestricted assets and income, and then compared them against the state’s liabilities to determine net worth.  Factoring all of these things together, California had a negative net worth of $127.2 billion in 2011-12.
 
The Budget Fact Check found that:
  • State spending on government activities still outpaced tax revenues, even though overall spending declined.  This resulted in a drop in California’s net worth of $8 billion.
  • Half of the state’s negative “unrestricted net assets” are the result of outstanding state bond debt for capital projects for school districts and local governments.
  • The decline in California’s net worth does not take into account the nearly $64 billion in unfunded retiree health care costs and upwards of $500 billion in unfunded state pension obligations.
 
 
 

Make Your Voices Heard!

 
 
 
DISTRICT OFFICE
350 W. 5th Avenue, Suite #110
Escondido, CA 92025
(760) 480-7570, (760) 480-7516 fax

 
CAPITOL OFFICE
P.O. Box 942849
Sacramento, CA 94249
(916) 319-2075, (916) 319-2175 fax
FacebookTwitter
© 2013 California State Assembly | Disclaimer
 


Page last updated 12/03/13