[NormsRevenge]

I know we paid down some, that's still a fair pile of debt.

[calcowgirl]

I'm looking through the debt affordability reports, available on Angelides' website.
http://www.treasurer.ca.gov/publications/index.htm

This is what I find which are comparable (by description) to the above $100B/$48B numbers as of 12/31/2005.

These are "State of California" - "Outstanding and Authorized General Obligation Bonds", as were the stated numbers in the Governor's Budget release. However, I'm not sure how the numbers grew so much in 6 months (I think there is a discrepancy here).

As of         07/01/2003   07/01/2004   07/01/2005

Authorized       $63B         $75B        $79B 
Outstanding      $26B         $33B        $35B