How Debt Happens.

Next time you are asked to vote on a bond measure for some greater good, drop everything and spend 10 minutes to read the article from the LATimes here.  It is shocking how easy it is (has been) to raise money via the bond measure route in California.  Voters go into the booth and read these propositions that are made to sound (no matter whatever the project) absolutely essential and easily paid for by just issuing some bonds the costs of which will be spread over many years and millions of tax payers.  But as is apparent from this excellent investigative reporting, the truth is when people spend other people's money, they are careless and indifferent to costs.  This is truly a condemnation of the runaway public sector and business sector nexus, not unlike that of the military and industrial relationship Eisenhower warned us of as he was stepping down as POTUS in 1960.  Taxpayers are on the hook for the debacle outlined in this article until way into the 2050s, and the amount is not chicken feed.  The residential homeowner of a property valued at $400,000 is and will be for 40 years paying a surtax of slightly over $&00 per year for all this waste (and some good) reported here.