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After accounting for restricted resources, such as purpose-specific state trust funds and bonds, the state still owed $55 billion more than it had.
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California is going bankrupt. Story by Tim Worstall. • 8mo. C alifornia isn’t bust. Not yet. But it’s carrying on in the way that will drive it so. The base problem is that the progressives...
Mar 21, 2024 · March 21, 2024 3 AM PT. With a budget deficit of at least $38 billion hanging over their heads, Gov. Gavin Newsom and Democratic leaders of the state Senate and Assembly announced an agreement on...
- taryn.luna@latimes.com
- Staff Writer
Apr 30, 2020 · With state economies struggling, there's talk of letting some go bankrupt. How would that work, and what would it mean for residents?
The Biggest Reason Why California Is Bankrupt. The Sacramento Bee unearths a stunning fact about the growth in spending on state workers. After crunching some census data, Dan Walters of The...
Feb 5, 2020 · Calling the bankruptcy of California’s largest investor-owned utility a “godsend,” Gov. Gavin Newsom has threatened a public takeover of Pacific Gas & Electric unless it can transform into a provider of affordable, reliable, clean and — above all — safe energy. That means no more ferocious wildfires sparked by PG&E equipment.
Bankruptcy is a legal process to help people who owe money, or debtors, get relief from debts they cannot pay and, at the same time, help people who are owed money, or creditors, get paid from assets property the debtor has.
