California Has Promised a Quarter-Trillion Dollars More Than It Has to Spend

A annual financial report from the State Controller’s Office released March 15 details more than $255 billion in unfunded liabilities, the largest in the U.S.

The California State Capitol building in Sacramento, Calif., on April 18, 2022. John Fredricks/The Epoch Times

Arriving nearly a year past its due date, an annual financial report from the California State Controller’s Office released March 15 details more than $255 billion in unfunded liabilities.

Such represents a record for the state and is the highest amount in the nation.