Assemblywoman Shannon Grove (R-Bakersfield) has introduced Assembly Joint Resolution (AJR) 10, to oppose any attempt by the state of California to receive a federal bailout for our state debt.
“I am proposing this preemptive measure because I firmly believe that each state is responsible for their own fiscal decisions. California taxpayers should not be held accountable for the failed fiscal policies of other states, just as others should not be on the hook for ours,” said Grove. “The ‘balanced’ budget Governor Brown unveiled last month conveniently ignored billions of dollars in unfunded pension liability, and the changes made to public pensions in recent years will only save the state a fraction of what it spends on these obligations. We can’t just ignore these numbers, and we should not expect a federal bailout. I want to bring more attention to the fact that the California legislature alone needs to seriously and significantly address our billions in state debt.”