Voters should be leery of approving more state borrowing

The first rule for getting out of a hole is to stop digging. But this fall, California voters are being asked to approve four statewide bond measures that would put the state and taxpayers $16 billion deeper into a fiscal hole.
Californians share responsibility for the US federal debt, which is growing at a rate of $1 trillion per year. The widely-reported national debt, which recently surpassed $21 trillion, includes only a portion of federal obligations.  Unfunded obligations are a growin