[Gophack]

The roughly 27 million customers of Edison, PG&E and San Diego Gas & Electric Co. will pay off the bonds over the next 20 years. Electric bills are not expected to be raised to cover the payments.

NOT EXPECTED is a far cry from WON'T.

So, we're paying higher electricity bills and we'll be paying off this bond until our kids have kids of their own. For me, these bonds will still be around when I'll be thinking about retirement. My youngest will be in his 30s.

Thanks, Gray Davis! I've got a 30-year mortgage, but at the end I'll still have a house. I have a 30-year bond debt on electricity I used once in 2001 because of your gross incompetence to run the state of California.

DUMP DAVIS!

[ElkGroveDan]

Captain Queeg reminder (click on the strawberries)

[randita]

So, we're paying higher electricity bills and we'll be paying off this bond until our kids have kids of their own. For me, these bonds will still be around when I'll be thinking about retirement. My youngest will be in his 30s.

Another related article suggested that even with the rosiest prognosis, the interest paid on these bonds by the state would equal the amount of the issue--that is $11.1 billion.

I have a sinking feeling that the rest of us scattered through fly-over country will in short order be forced to open out wallets to bail out CA, just like we all had to share in the S & L bailout.

Another two years like the last two and CA will be staring bankruptcy right in the face.