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Treasurer Chiang Releases Debt Affordability Report

PR15:31
October 1, 2015

Contact: Catalina Martinez
916-653-2995

SACRAMENTO – Treasurer John Chiang today released his 2015 Debt Affordability Report, offering insights into the State of California’s fiscal health, in particular its use of debt to finance critical public works projects.

It’s chock full of key data – including 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.

This matters because if we continue to improve our bond ratings, taxpayers will benefit from lower borrowing costs. More importantly, the cost savings can be redirected to important public programs, such as public safety and education.

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?

To learn more, read the Debt Affordability Report.

Read this press release in Spanish.

For more news, please follow the Treasurer on Twitter at @CalTreasurer, and on Facebook at California State Treasurer's Office.