California’s Debt-Issuance Drought Will Stretch Into This Year
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California bond sales this year will remain at levels well below those of 2009 and 2010, as Governor Jerry Brown attacks what he calls a “wall of debt.”
While the nation’s most-populous state will sell $5.2 billion of general-obligation bonds in 2012, up 18 percent from 2011, that amount is far less than was issued in either of the two preceding years, according to Tom Dresslar, a spokesman for state Treasurer Bill Lockyer.