Latest β€˜Prop. 13’ on Calif. ballot set to cost taxpayers tens of billions

Source: https://www.youtube.com/watch?v=2I68cEV4HOQ&feature=emb_title
Published: Mar 1, 2020
Author: Pearson Sharp
Post Date: 2020-03-01 19:06:46 by Horse
Views: 471


Poster Comment:

State proposition on ballot to borrow $12 billion for schools and pay back $25 billion over 35 years (including $13 billion in interest.) Democrats is Sacramento to decide where the $12 billion goes.

The state can't pay that money back. And they might not sell the bonds. The sale won't be implemented until after lawsuits are settled in a few months. Interest rates could skyrocket between now and then making this a Huge No Sale Event.

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#1: Horse    To: All (#0)

It will allow local school districts to increase their indebtedness.

Horse posted on 2020-03-01 19:08:58   Reply   Private Reply