State, Local Gov’ts Could Be $1.1T in Debt, Report Finds
A new report from the California Public Policy Center estimates state and local governments are at least $648 billion in debt and the total could exceed $1.1 trillion depending on how pension liabilities are calculated. CPPC also pegged unfunded public retiree health care obligations at $136.9 billion, while official state and local pension unfunded liabilities stand at $128.3 billion.
- "Report: California Governments Could Be $1.1 Trillion in Debt" (Walters, "Capitol Alert," Sacramento Bee, 4/30).