California's $500 Billion Long Term Debt - Fox 2 News Headlines

Point of View

California's $500 Billion Long Term Debt

Kevin Hale, VP/General Manager FOX 11 News Kevin Hale, VP/General Manager FOX 11 News

When Governor Brown convinced voters last November to give themselves a $50 billion dollar tax increase, he claimed it was just temporary.

Well, in my opinion -- I don't think it will be "temporary."  

Unless something changes, the amount of long term debt that California is facing -- means that we are going to be taxed again and again and again. 

I'd like to hear your Point of View. Send me an email at POV@fox11.com

Long term debt by the way that Governor Brown is currently doing nothing to resolve. A staggering debt that stands at an estimated $500 billion dollars.

Where is all this debt coming from? Well it's primarily coming from two areas: Government pensions and government workers healthcare benefits -- which alone total approximately $360 billion in long term debt.

So what does this all mean? Well, the money for basic state responsibilities such as maintaining infrastructure, building highways, and providing for our children's education will be squeezed out -- just to pay the long term debt service. And for you and me, more than likely – increased taxes.

Governor Brown: Instead of patting yourself on the back for balancing the budget by increasing taxes by $50 billion, start doing more about government spending. Take a look at meaningful pension and health care reform. Figure out a less expensive way to house California's prisoners. And drop the high speed rail plan. You fought hard for the $50 billion dollar tax increase. Now fight just as hard to reduce that $500 billion of long term debt.

Thanks for listening.

What do you think? We want to hear from you on this P.O.V. segment. Share your thoughts in the comments section below or email me directly at POV@fox11.com.

Kevin Hale,
Vice President and General Manager
KTTV-TV, FOX 11 News

The views expressed are not necessarily those of the station or its employees.

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