California bond debt exceeds $99 billion

(The Center Square) – Amid a projected $18 billion budget shortfall for the 2026-27 fiscal year, the state is also dealing with $99.1 billion in bond debt, according to a new report. The report released by the California Debt & Investment Advisory Commission shows that the state and local debt load sits at $99.1 billion, and long-term debt across the state makes up $90.1 billion. That debt load is up 11.6% over the five-year average, the report states, and is up 8.8% year-over-year. “I always say the insidious thing about taking a loan out is that you’ve got to pay it back,” state Sen. Roger Niello, R-Roseville and vice chair of the Senate Budget and Fiscal Review Committee, told The Center Square on Monday. “I tend to be very conservative on that because of that fact that you have to pay it back. If there’s any part of today’s budget difficulties that are motivating us to go to the bond market to help pay for things that the general fund can’t, that’s a huge mistake.” An additional $7