How California’s Counties Are Performing Financially, and Why It Matters | John Moorlach

Siyamak sits down with John Moorlach, former California State Senator and Orange County Supervisor. He talks about the latest report on how California’s counties and cities are doing financially, why the state is late in providing the reports, and what the impact of those counties’ performance is.

Based on what Mr. Moorlach found, 55 out of 58 counties are running balance sheets that are currently “upside down”—meaning they have greater liabilities than they can pay.

“We have close to 200 billion in unrestricted net deficit,” Mr. Moorlach says. Furthermore, tardy financial reporting means “the legislature and the governor are signing budgets without even having solid financial data on how their state is running.”

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Views expressed in this video are opinions of the host and guests, and do not necessarily reflect the views of The Epoch Times.