OPINION: No: State Can’t Afford To Take On More Debt

It’s time, Californians, to hold on to our collective wallets. “It does NOT raise taxes,” proponents of Proposition 68 insist in the official state voters’ guide. Then where do they think the money will come from to repay the $4 billion inbonds that are supposed to go for parks and “climate adaptation,” whatever that is? Bonds are debt. Debt needs tobe repaid, with interest. The debt payments will increase the state budget or something in the budget will have to be cut to provide the required funds. But most likely, taxes will have to be raised.