Should California Take On More Debt for Schools?

Commentary Californians tend to be credit card debt-laden and don’t seem to mind adding more debt to their monthly financial commitments. That may be why they, as voters, do not flinch when Sacramento legislators put bond measures on the ballot. These propositions usually receive enough votes to succeed and permit the state to borrow more money. For those homeowners who reside in an association requiring monthly dues payments, a portion of each installment is dedicated to building reserves for a future anticipated improvement on structures owned by all the residents. If the private roads need a slurry coat every seven years, then the cost is estimated, the amount is divided by 84 months and by the number of residences in the project and included in the monthly dues....