Bee Analysis: 12 California Measures Could Cost Taxpayers $78 Billion
The Sacramento Bee did an interesting analysis of the total expected cost, over time, if all 12 measures on the state ballot next month were to pass. The story is here. Much of the expense is in the four bond measures: Prop 1A (high speed rail), Prop 3 (children's hospitals), Prop 10 (energy) and Prop 12 (veterans' housing). A good rule of thumb for bonds: double the amount that's being borrowed, and you have the real cost.
Bob Stern of CGS is quoted as saying he believes that, at this economic moment, voters are likely to vote no on almost everything. I tend to agree.