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California is enjoying a better reputation among bond investors since state voters approved tax...

California is enjoying a better reputation among bond investors since state voters approved tax increases S&P estimates will boost revenues by more than $6B over the next several years. California is distancing itself from the one state it consistently, if barely, outranks in the muni market hierarchy: Illinois, which has done little to address its $83B unfunded pension liability.
Comments (3)
  • PalmDesertRat
    , contributor
    Comments (2821) | Send Message
     
    The tax approved by my fellow Californians is specifically dedicated to education and is in no way to be used for any other purpose.

     

    furthermore,it is a temporary tax,although we all know what a temporary tax is.

     

    anyway,this tax should not represent a source of comfort to bondholders or rating agencies.
    27 Nov 2012, 07:07 PM Reply Like
  • nightfly
    , contributor
    Comments (1017) | Send Message
     
    Exactly - all other tax props got shot down. This is just more meaningless banter.
    27 Nov 2012, 09:54 PM Reply Like
  • Hendershott
    , contributor
    Comments (1560) | Send Message
     
    Education is a huge part of the California budget, about 1/4 of all expenditures. Funding that is clearly a positive for bondholders.
    28 Nov 2012, 01:24 PM Reply Like
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