State Treasurer John Chiang released his 2015 Debt Affordability Report, offering insights into the State of California’s fiscal health, including the finding that the state’s creditworthiness ranks above only Illinois and New Jersey.
Data focus in particular on use of debt to finance critical public works projects – issued debt, analysis of the market for State bonds and a big-picture look at our improved bond ratings. It also shows some useful comparisons to other major states.
The report also aims to educate readers by answering key questions, including:
Why have the State’s borrowing costs gone down in the past year? What is the story behind the State’s debt refinancing, and how will it benefit taxpayers? How much debt is currently outstanding? How much has been authorized, but has not yet been issued? Is California paying more interest than other states? If so, how much more?