SACRAMENTO — Let’s say you were buried under an avalanche of debt for years and could only make the minimum payments on your credit card bills. But then you started cutting back your expenses — and even got a raise at work. Suddenly, you were paying your bills on time, and even going out to eat a couple of times a month.
But then you find a huge stack of bills in your desk drawer from years past, and the first payments from that no-money-down car loan come due. Then your adjustable mortgage rate starts going up. And you realize things aren’t as rosy as you first thought.
That’s one way to look at the situation facing California lawmakers and Gov. Jerry Brown as they celebrate a balanced budget that even
11/23/2024