It was July 12, 2007, and since then California has been living on borrowed money.
As in $21.5 billion worth of borrowed money, according to state Controller John Chiang: $16.5 billion borrowed from some of the state's 1,000-plus special funds, plus $5 billion in "revenue anticipation notes," which are basically money borrowed from private investors.
But, Chiang, whose office writes the state's checks, says California is about out of stopgap tricks to pay its bills and keep all its programs running.
California is almost out of ways to pay bills, fund programs
Nearly 400 millionaires and billionaires from 24 countries are calling on global leaders to increase taxes...
United Parcel Service on Tuesday said it would cut up to 30,000 operational roles in 2026,...
